Schumer Asks FERC To Investigate Power Markets

Law360, New York (August 13, 2008, 12:00 AM EDT) -- A New York senator has called on the U.S. Federal Energy Regulatory Commission to take a closer look at the activity of traders in area power markets, claiming that some may be engaging in practices that boost profits and bilk customers.

In a letter sent to FERC on Tuesday, Sen. Charles Schumer (D-NY) asked the agency to investigate irregularities in power markets in New York and the surrounding area, telling regulators that some market participants may be delivering power using circuitous routes.

Schumer has alleged that...
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