January 18, 2013 / 9:47 PM / in 5 years

Settlement talks between Deutsche, US power regulators extended

NEW YORK, Jan 18 (Reuters) - U.S. electricity regulators requested a further extension in a legal deadline as talks continued with Deutsche Bank over a potential settlement of power market manipluation allegations, staff of the Federal Energy Regulatory Commission said in a filing Friday.

FERC staff requested extending Friday’s deadline until Jan. 22 amid the ongoing talks.

FERC proposed Deutsche pay a $1.5 million fine and disgorgement of $123,198 in alleged ill-gotten profits last year for allegedly manipulating California power prices.

Deutsche Bank has disputed FERC’s allegation that it manipulated the market by deliberately losing money on physical transactions to profit in derivative markets.

FERC staff first disclosed the settlement talks on Jan. 11. [ID: nL1E9CBENL]

Editing by Bob Burgdorfer

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