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Brief -- National Energy & Trade

FERC has approved a settlement agreement between its Office of Enforcement (OE) and National Energy & Trade LP that resolves allegations that the company violated the Federal Energy Regulatory Commission’s Prohibition of Natural Gas Market Manipulation by manipulating physical natural gas prices between Jan. 1, 2011 and Sept. 30, 2015 at the Houston Ship Channel, Tetco M3, Transco Zone 6 (New York) and Henry Hub in order to benefit its related financial positions [IN16-5] (see Daily GPIAug. 9). Under terms of the agreement, National Energy neither admits nor denies the allegations, and agrees to a civil penalty of $1.16 million and disgorgement of $305,780. The disgorged funds will go to the Texas Low Income Home Energy Assistance Program.

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