Edison Mission Inks $9M Settlement With FERC

Law360, New York (May 20, 2008, 12:00 AM EDT) -- An Edison International unit will pay $7 million in civil penalties and an additional $2 million for a new compliance program to settle the U.S. Federal Energy Regulatory Commission's accusations that it misled federal regulators investigating its bidding practices.

FERC gave unanimous approval Monday to the stipulation and consent agreement, resolving charges that Edison Mission Energy violated regulations imposing a “duty of candor” on electric power sellers.

Under the agreement, Irvine, Calif.-based EME, along with affiliates and co-respondents Edison Mission Marketing & Trading Inc. and Midwest...
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