Rule Change Helps GDF Suez Energy Beat Manipulation Suit
Law360, New York (February 5, 2015, 2:24 PM EST) -- A Texas federal judge on Wednesday dismissed allegations accusing energy supplier GDF Suez Energy North America Inc. of manipulating energy prices by withholding power in times of high demand, ruling that the energy transactions at issue fall under an exemption.
U.S. District Judge Ewing Werlein Jr. ruled that GDF's trading on a Texas electricity market fell under exemptions carved out of federal law in 2013, a result of petitions by the Public Utility Commission of Texas, the primary regulator of the energy market on which the transactions were made.
The complaint, filed by two energy traders, alleged violations of the Commodity...
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