JPMorgan Unit Tells FERC Grid Cos. Should Accept Rates

Law360, New York (April 11, 2013, 3:41 PM EDT) -- A JPMorgan Chase & Co. energy trading unit pushed back Wednesday against two electricity grid coordinators asking the Federal Energy Regulatory Commission to alter the company's rate structure, saying its proposed changes reflect the agency’s wishes.

The complaint filed with FERC targets PJM Interconnection LLC and Midwest Independent System Operator Inc., which are protesting JPMorgan Ventures Energy Corp.’s plan to comply with a FERC order that blocked it from selling electricity at market rates for six months starting April 1. That suspension came after FERC determined...
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