News & Analysis as of

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

FERC’s Principles-Based Enforcement

You may have noticed the Federal Energy Regulatory Commission (FERC) has received lots of heated criticism over its enforcement of alleged market manipulation and fraudulent behaviors. You may also have noticed FERC has not...more

FERC Issues Notice of Alleged Natural Gas Market Manipulation

On July 9, 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

FERC Issues Notice of Alleged MISO Market Manipulation

On June 12, 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 formal, nonpublic...more

FERC Sets Enforcement Case Against BP for Hearing, Takes Expansive View of Jurisdiction to Enforce Anti-Manipulation Rule

In an order issued on May 15, 2014 that takes a broad view of its jurisdiction over conduct that allegedly violates the Natural Gas Act’s (NGA) prohibition against market manipulation, the Federal Energy Regulatory Commission...more

FERC Orders Evidentiary Hearing For Alleged Market Manipulation By BP

On May 15, 2014, the Federal Energy Regulatory Commission (FERC) issued an order setting an evidentiary hearing before an administrative law judge (ALJ) to determine whether BP America Inc., BP Corporation North America Inc.,...more

Louis Dreyfus Unit Settles FERC Enforcement Action Regarding Alleged MISO FTR Market Manipulation

On February 7, 2014, the Federal Energy Regulatory Commission (FERC) approved a Stipulation and Consent Agreement between the Office of Enforcement (OE) and Louis Dreyfus Energy Services, L.P. (LDES) to resolve an...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

Barriers to Cooperation between the CFTC and FERC Hinder Investigations into Energy Market Manipulation – A Legislative Fix May be...

The Federal Energy Regulatory Commission (“FERC”) has initiated investigations into energy market manipulation in the last two years that have resulted in nearly $1 billion in penalties and profit disgorgements from companies...more

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