FERC Wants JPMorgan Docs In Energy Market Bidding Probe

Law360, New York (July 03, 2012, 7:26 PM ET) -- The U.S. Federal Energy Regulatory Commission on Monday asked a Washington federal court to force JPMorgan Ventures Energy Corp. to comply with subpoenas related to an investigation into the company’s bidding practices in California and Midwest electricity markets.

FERC says it is investigating JPMorgan’s possible manipulation of the electricity markets by extracting excessive payments at above-market prices that enabled more than $73 million in improper payments.

While it has repeatedly requested numerous emails and served the company with two subpoenas, the commission says JPMorgan is still...
To view the full article, register now.