FERC’s enforcement powers have been impacted by recent court cases, and the commission itself has some new priorities, experts said at an EBA panel Friday.
Coaltrain Energy agreed to pay $4 million in disgorged profits to resolve a FERC investigation into accusations that the company engaged in market manipulation.
PJM and its Monitor must turn over a trove of documents stemming from allegations of manipulation against now-defunct Coaltrain Energy.
Coaltrain Energy said that it didn’t manipulate the market, that its trading strategy wasn’t deceptive and that it didn’t engage in wash trades.
PJM told FERC that it has already recovered $9 million of the approximately $37 million the RTO paid out to virtual traders through its marginal loss surplus allocation.
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