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FERC in $2.5-mln settlement with Gila River over CA actions
November 19, 2012 / 4:51 PM / in 5 years

FERC in $2.5-mln settlement with Gila River over CA actions

WASHINGTON, Nov 19 (Reuters) - The U.S. Federal Energy Regulatory Commission (FERC) on Monday said it approved a settlement with Gila River Power LLC for manipulation of power markets in California in 2009 and 2010.

The settlement calls for Gila River, a subsidiary of Entegra Power Group LLC, to pay a fine of $2.5 million and disgorge unjust profits of $911,553 plus interest.

FERC said the agreement marked the first time that a market participant has admitted to a violation of FERC’s anti-manipulation rule in an energy trading case.

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