Energy Market Manipulation: FERC Actions, Proposals

Law360, New York (August 17, 2007, 12:00 AM EDT) -- FERC issued two show cause orders on July 26, 2007, requiring Energy Transfer Partners, LP ("ETP") and Amaranth, LLC to show cause why they should not be penalized $167 million and $300 million respectively, for allegedly violating FERC’s rules against market manipulation.

In a statement, FERC Chairman Kelliher warned that "bad actors in the industry must recognize that manipulation, even in increasingly complex energy markets, can be detected. And when it is proven, they will be punished severely."

In the first show cause order, FERC gave...
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