Texas Energy Regulators Propose $210M Fine For TXU

Law360, New York (March 29, 2007, 12:00 AM EDT) -- Texas energy regulators have proposed levying a fine of $210 million on electricity provider TXU Corp. as punishment for illegal market manipulations during the summer of 2005.

The Public Utility Commission of Texas proposed the fine on Wednesday, though the PUC’s three commissioners must still approve it before it is imposed on TXU.

TXU issued a statement denying the market manipulation allegations.

“The accusation of any market power abuse is flatly wrong," the company said. "We look forward to exposing the flaws in the analysis as...
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