Energy Price-Gouging Legislation Introduced

Law360, New York (February 28, 2007, 12:00 AM EST) -- With gas prices once again going up, 79 House members introduced legislation Wednesday that would give the Federal Trade Commission more power to punish energy price-gougers.

The bill, known as the “Federal Price Gouging Prevention Act,” would impose fines as high as $150 million for corporations that manipulate prices. Individuals, meanwhile, could face jail sentences of up to 10 years and $2 million fines.

All penalties collected would then go to the Low Income Home Energy Assistance Program, according to Rep. Bart Stupak (D-Mich.), the bill’s...
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