Power Co. Settles CFTC Action For $2M

Law360, New York (February 16, 2007, 12:00 AM EST) -- Power generator NRG Energy Inc. has agreed to a $2 million fine to settle charges by federal regulators that it reported false natural gas trades to manipulate the price index.

The U.S. Commodity Futures Trading Commission said Thursday the Minnesota-based electricity provider had consented to the civil penalty after it was charged for violations of the Commodity Exchange Act.

The regulator first brought action against NRG in July 2004, accusing the power company’s traders of issuing misleading information on transactions to companies that compiled natural gas...
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