Kevin and Rich Gates have reactivated their website after FERC indicated that it was about to move on to the next step — civil prosecution.

FERC staff issued a Notice of Alleged Violation last week against traders who exploited a loophole in PJM UTC trades in a case that will likely go to court.

After nearly four years of investigation, FERC publicly accused an energy trading firm of market manipulation in a case that dogged enforcement chief Norman Bay through his confirmation as commissioner.

The Powhatan Energy Fund, the subject of a FERC investigation for more than three years without being charged, has decided to go on offense by releasing documents it says proves it has been unfairly hounded.

A guide to the players in the Powhatan Energy Fund market manipulation investigation.