Fraud Without Penalties In NE Energy Market

Law360, New York (December 14, 2011, 12:50 PM EST) -- On Nov. 29, 2011, the Federal Energy Regulatory Commission approved a $336,367.86 settlement between FERC's Office of Enforcement and Holyoke Gas and Electric Department, resolving allegations that Holyoke violated FERC's Prohibition of Electric Energy Market Manipulation, 18 C.F.R. § 1c.2.

FERC-OE concluded that Holyoke's failure during 2008 and 2009 to report to ISO New England Inc. three planned outages of two generating units serving as ISO-NE capacity resources constituted energy market manipulation because Holyoke continued to offer the units' generation for dispatch by ISO-NE while the...
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