Category

FERC

11 December 2015

Energy Enforcement Update

This week’s developments on the enforcement front, including an update on the Total natural gas market manipulation case:

  • CFTC files and settles charges against Total Gas & Power North America, Inc. and Therese Tran for attempted manipulation of natural gas monthly index settlement prices.
  • Staff holds technical conference on Connected Entity data.
  • FERC files the administrative record in the Powhatan/Chen proceeding.

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06 November 2015

Energy Enforcement Update

Recent Developments:

  • FERC v. Barclays:  Judge Nunley denies motion for clarification and FERC files the administrative record in the Barclays proceeding.
  • FERC v. Powhatan:  FERC files opposition to Powhatan and Chen motions to dismiss.
  • FERC v. Berkshire Power:  FERC issues NAV against Berkshire Power Company LLC and Powerplant Management Services LLC.

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22 September 2015

Energy Enforcement Update

Yesterday, FERC issued a Notice of Alleged Violation naming Total and two traders.

Staff alleges that the scheme involved making largely uneconomic trades for physical natural gas during bid week designed to move indexed market prices in a way that benefited the company’s related positions. Staff also alleges that the West Desk implemented the bid week scheme on at least 38 occasions during the period of interest.  Staff further alleges that Therese Nguyen and Aaron Hall each implemented the scheme and supervised and directed other traders in implementing the scheme.

FERC Notice of Alleged Violations

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