Utility Pays $2M To Settle FERC Charges

Law360, New York (June 12, 2007, 12:00 AM EDT) -- Cleco Power LLC on Tuesday agreed to pay $2 million to settle claims by federal energy officials that the Louisiana-based energy company illegally shared information and personnel between its power marketing and generation affiliates.

Under a 2003 agreement with the Federal Energy Regulatory Commission, Cleco agreed to have its companies function independently of one another. However, a FERC investigation found that six operating personnel and market information were being shared between the company's regulated electric utility, Cleco Power, and its exempt wholesale generator, Cleco Midstream, between...
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