News & Analysis as of

Market Manipulation Electricity

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The FHLB Boston’s $5.9 billion MBS case against Morgan Stanley, UBS, and Credit Suisse, is back in Massachusetts state court—a result of the Supreme Court’s Lightfoot v. Cendant Mortgage case that held that Fannie Mae’s...more

"FERC Could See Substantial Changes Under President Trump"

The Federal Energy Regulatory Commission (FERC) is a somewhat obscure and highly technical agency that was not discussed specifically during President Donald Trump’s campaign. Its regulatory footprint is, however,...more

"Skadden Energy Law Handbook: Fourth Edition (November 2016)"

Skadden’s Energy Regulation and Litigation Group is pleased to provide the fourth edition of the Skadden Energy Law Handbook, which includes a summary of recent developments. The handbook contains 16 chapters covering a broad...more

FERC Goes Back to the Drawing Board on Data Collection Rule

by WilmerHale on

On July 21, 2016, the Federal Energy Regulatory Commission (FERC) proposed a new data collection rule that would require market-based rate (MBR) sellers and entities trading virtual products or holding firm transmission...more

Federal Court Grants Full Civil Trial to FERC Enforcement Target

by Morgan Lewis on

The decision will likely affect the strategies of enforcement targets in electric market manipulation cases. For the first time, a federal district judge has held that a review of a Federal Energy Regulatory Commission’s...more

CFTC Proposes Amendment to RTO-ISO Order

On May 10, 2016, the Commodity Futures Trading Commission (“CFTC”) proposed an amendment (“Proposed Amendment”) to an order it issued on March 28, 2013 (“RTO-ISO Order”), exempting certain electric energy transactions from a...more

Australian Competition & Regulation Update - Misuse of Wholesale Electricity Market Power - US Class Action Proceeds

by DLA Piper on

WHAT HAPPENED IN THE US? Class Action to proceed On 1 April 2016, a US District Court allowed a class action to proceed. The action was brought by Merced Irrigations District (Merced) against Barclays Bank PLC...more

Long-Awaited Decision is a Mixed Result for Litigants Battling FERC Enforcement Actions in Federal Court

Individuals and organizations litigating the imposition of civil penalties by the Federal Energy Regulatory Commission (“FERC” or “Commission”) under its anti-manipulation authority in federal court received another opinion...more

FERC Seeks to Expand Electricity Market Surveillance with New Data Reporting Requirements

by Morrison & Foerster LLP on

On September 17, 2015, the Federal Energy Regulatory Commission (FERC) issued a Notice of Proposed Rulemaking (NOPR) to expand the obligations of Regional Transmission Organizations and Independent System Operators...more

AUC Finds TransAlta Guilty of Manipulating Electricity Market

In a landmark and long anticipated decision, on July 27, 2015, the Alberta Utilities Commission (AUC) released its 217-page decision in Market Surveillance Administrator allegations against TransAlta Corporation et al., Mr....more

FERC Issues Order to Show Cause and Notice of Proposed Penalties to Powhatan Energy Fund, LLC and Related Parties

On December 17, 2014, as amended December 18, 2014, the Federal Energy Regulatory Commission (FERC) issued an Order to Show Cause and Notice of Proposed Penalty (Show Cause Order)1 directing Houlian (Alan) Chen, HEEP Fund,...more

Despite Potential Market Manipulation, FERC Declines to Reject Power Auction Results

by McDermott Will & Emery on

The Federal Energy Regulatory Commission (FERC or the Commission) recently opted not to take action to set aside the results of a power auction that was allegedly manipulated. In the face of significant public complaints,...more

FERC Issues Notice of Alleged PJM Market Manipulation to Alan Chen and Powhatan Energy Fund, LLC

On August 5, 2014, the Federal Energy Regulatory Commission (FERC) issued a Staff Notice of Alleged Violations (Preliminary Notice) stating that FERC’s Office of Enforcement has preliminarily determined, in a non-public...more

Crude Allegations: Corruption in the Energy Trading Sector

by King & Spalding on

The world-wide energy trading sector, where traders match physical supply and demand of energy by purchasing, reselling, and moving commodities (crude oil and refined products, natural gas, coal, and even electricity) across...more

FERC Enforcement Director Calls For Legislative Fix To Address Hunter Decision

On January 15, 2014, Mr. Norman Bay, Director of the Office of Enforcement at the Federal Energy Regulatory Commission (FERC), testified at a Senate Banking Subcommittee on Financial Institutions and Consumer Protection...more

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