Market Manipulation Federal Energy Regulatory Commission

News & Analysis as of

FERC Civil Penalties May Be Subject to Full Judicial Review

A Federal District Court recently held that a proposed civil penalty assessed by FERC was subject to a full trial de novo where the respondent elects to forego a hearing before an Administrative Law Judge, a matter of first...more

FERC Goes Back to the Drawing Board on Data Collection Rule

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

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

BP Case Reflects FERC’s Broad View of its Jurisdiction

On July 11, 2016, the Federal Energy Regulatory Commission (FERC or “Commission”) issued an order affirming an Administrative Law Judge’s (ALJ) Initial Decision finding that BP America (“BP”) and certain affiliated entities...more

Court Holds FERC De Novo Review to Proceed as “Ordinary Civil Action”

Last week, a federal district judge ruled for the first time that the “review de novo” promised by section 31(d) of the Federal Power Act (“FPA”), 16 U.S.C. § 823b(d), will be “treated as an ordinary civil action requiring a...more

FERC as Prosecutor, Judge and Jury?

May the Federal Energy Regulatory Commission (FERC) initiate an enforcement investigation against a company for manipulating natural gas markets, order the company to show cause why it shouldn’t be fined and then decide the...more

FERC v. Maxim Power Corp. - Court Rejects FERC's Interpretation of Penalty Review Procedures; Respondents To Have Their Day In...

In a July 21, 2016 order, a federal district court for the first time in a FERC enforcement matter held that review of an assessed civil penalty pursuant to Section 31(d)(3) of the Federal Power Act (“FPA”) entails an...more

FERC Increases Maximum Civil Monetary Penalties for Power, Gas and Oil Companies

On June 29, 2016, the Federal Energy Regulatory Commission (the “Commission”) issued an interim final rule amending the civil monetary penalties within its jurisdiction to adjust for inflation. FERC adjusted its penalties...more

FERC Issues Order Assessing Civil Penalties Against ETRACOM

On Friday, June 17, 2016, the Federal Energy Regulatory Commission (the “Commission”) issued an Order Assessing Civil Penalties against ETRACOM LLC (“ETRACOM”) and ETRACOM’s founding member and majority owner, Michael...more

FERC assesses Coaltrain penalties

U.S. energy regulators have issued an order assessing $38 million in civil penalties for alleged energy market manipulation, plus disgorgement of unjust profits. The case involves Coaltrain Energy, L.P., two of its...more

CFTC Proposal Invites Private Litigation of RTO Market Manipulation Theories

With its proposed order issued earlier this week, the Commodity Futures Trading Commission (CFTC) may be making an already complicated landscape governing energy market manipulation even more so. The proposed order (CFTC...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

FERC Market Manipulation Case Still Alive After Ruling in Silkman and Lincoln Paper Case

For the past several years, FERC has been investigating several energy industry participants under several theories of market manipulation. Gradually, these cases have moved from administrative proceedings to U.S. district...more

FERC Proposes to Pierce the Corporate Veil and Impose $216 Million in Fines in Alleged Natural Gas Market Manipulation Scheme

On April 28, 2016, FERC issued an order directing Total Gas & Power North America, Inc. (Total Gas), two of its traders, its ultimate corporate parent, Total S.A. (Total) and an affiliate Total Gas & Power, LTD (TGPL) to show...more

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

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

Massachusetts Case First Criminal Prosecution for Violating FERC’s Anti-Manipulation Rule

On March 30, 2016, the United States Attorney’s Office for the District of Massachusetts (“USAO”) filed an Information charging Power Plant Management Services LLC (“PPMS”) with felonies of conspiring to violate and violating...more

FERC approves Berkshire Power settlement

Federal energy regulators have approved a stipulation and consent agreement under which two companies admit violations of the Federal Power Act and regulations prohibiting energy market manipulation. The case involves...more

FERC enforcement report cites screenshots, keylogger

The Federal Energy Regulatory Commission has issued an Order to Show Cause and Notice of Proposed Penalty against Coaltrain Energy, L.P. and six individuals relating to alleged fraudulent transactions in PJM Interconnection...more

FERC Investigations and Enforcement Remain Focused on Market Manipulation

The Office of Enforcement (OE) of the Federal Energy Regulatory Commission (FERC) recently released its annual report for the past fiscal year. The report provides FY2015 statistics on the investigative and enforcement...more

Skadden Energy Law Handbook - Third Edition (Dec. 2015)

Skadden’s Energy Regulatory and Litigation Group is pleased to provide the third edition of the Skadden Energy Law Handbook. This edition includes updates on recent developments, as well as a summary of those developments....more

2015 Agency Enforcement Reports Reveal Record CFTC Fines, FERC “Steady as She Goes”

The Commodity Futures Trading Commission (CFTC) and the Federal Energy Regulatory Commission’s (FERC) 2015 enforcement reports reveal one agency – the CFTC – imposing record fines, with the other – FERC – continuing its...more

2015 FERC Enforcement Report Confirms Increase in Enforcement and Audit Activity as FERC Faces Unprecedented Number of Litigated...

The Federal Energy Regulatory Commission’s (“FERC”) Office of Enforcement (“Enforcement”) issued its 2015 Report on Enforcement (“Report”) on November 19, 2015. The Report summarizes FERC’s enforcement efforts during the...more

FERC Terminates Proceeding That Would Increase Reporting of Natural Gas Sales

On November 17, 2015, the Federal Energy Regulatory Commission (FERC) issued an order terminating its inquiry on potentially requiring jurisdictional sellers to submit quarterly reports on natural gas transactions....more

FERC 2015 Report on Enforcement

The enforcement arm of the Federal Energy Regulatory Commission has released a report describing its enforcement activities in fiscal year 2015. The 69-page 2015 FERC staff report on enforcement draws its organization...more

48 Results
|
View per page
Page: of 2
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×