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December 5, 2025

market manipulation

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FERC Proposes to Eliminate Western ‘Soft’ Price Cap
FERC is moving to rescind the West-wide wholesale electricity price cap mechanism it instituted in 2002 in response to widespread price manipulation during the Western energy crisis of 2000/01.
Potomac Economics
MISO Tries to Ward Off DR Fraud with New Testing Regime
MISO has filed with FERC to impose more exacting testing on its demand response resources in an effort to deflect fraud.
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FERC Approves Much Smaller Fine for Total Energy After Lengthy Litigation
FERC approved a diminished settlement with Total Gas & Power North America in a lengthy case, as a recent Supreme Court decision has impacted its enforcement processes.
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Galt Power Fined $1.5M Following Anti-Manipulation Investigation
FERC approved a $1.5 million civil penalty on Galt Power following an investigation finding manipulation violations in the creation of renewable energy credits.
Dynegy
FERC Sets Dynegy’s MISO Market Manipulation Case for Hearing
Nearly a decade after the MISO capacity auction in which Dynegy was found to have manipulated clearing prices, FERC has directed hearing and settlement procedures in the case.
FERC
FERC Enforcement Report Details One Closed Probe into Winter Storm Uri
FERC's latest enforcement report detailed one closed investigation into manipulation during Winter Storm Uri, but other nonpublic probes continue.
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FERC Approves Smaller Fine for BP After 5th Circuit Decision
FERC approved an $11 million fine for BP America that closes an investigation into natural gas price manipulation dating back to Hurricane Ike in 2008.
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FERC’s Evolving Enforcement Practices Examined at EBA Meeting
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.
Calpine
CPUC to Investigate Western Natural Gas Price Surge
The California Public Utilities Commission launched an investigation into extremely high natural gas prices in California and the West this winter.
CAISO
Natural Gas Prices Add $4B to CAISO Electricity Costs
Soaring natural gas prices in December and January increased CAISO electricity costs by $4 billion, prompting the governor to ask FERC to investigate.

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