Entergy Fleeced Customers, Must Pay Damages: Judge

Law360, New York (December 14, 2010, 6:10 PM EST) -- A U.S. Federal Energy Regulatory Commission judge has ruled that Entergy Corp. violated its system agreement by failing to reserve its lowest cost electricity for its customers, instead selling it to third-party power marketers and divvying up the profits among shareholders.

Judge John P. Dring, the presiding administrative law judge for the commission, issued an initial opinion on Thursday ordering shareholders of the energy company to pay an unspecified amount of damages to its operating companies.

Entergy had come under scrutiny after the Louisiana Public Service...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.