Sen. Asks FERC To Probe $3.6B Market Manipulation Claims
By Michael Phillis (October 18, 2017, 5:17 PM EDT) -- Connecticut Democratic Sen. Richard Blumenthal sent a letter to the head of the Federal Energy Regulatory Commission on Tuesday asking it to investigate allegations that utilities Eversource Energy and Avangrid manipulated electricity prices in the region, costing New England consumers $3.6 billion in higher energy bills.
Blumenthal's letter to FERC Chairman Neil Chatterjee said "serious allegations" — that the utilities artificially constrained the region's natural gas pipeline capacity, leading to inflated electricity costs between 2013 and 2016 — had been raised in a report published by the Environmental Defense Fund and several university researchers. In addition, the Office of Consumer Counsel, which...
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