A former natural gas trader for Reliant Energy on Tuesday received the maximum 57-month prison sentence for providing false trading data to index publishers in 2000. Jerry Futch pleaded guilty last year, but he had asked the court to throw out his indictment last month (see Daily GPI, Feb. 15).
False
Articles from False
NGI The Weekly Gas Market Report
Mirant Ridicules Notion Virginia Plant Shutdown Spurred by Economics
Suggestions that Mirant temporarily shutdown a 482 MW power plant in suburban Virginia for economic reasons “are absolutely false,” Mirant CEO Marce Fuller said last Thursday. “This is peak season for all power companies, and having this plant shut down is costing us money.”
Wittig Resigns, Westar Names Former COO to Revive Company
Under indictment for fraud, conspiracy and submitting false documents to a federally insured bank in Topeka, KS, David C. Wittig, chairman and CEO of Westar Energy Inc. resigned last week, two weeks after being put on unpaid administrative leave (see Power Market Today, Nov. 15; Nov. 8).
Wittig Resigns, Westar Names Former COO to Revive Company
Under indictment for fraud, conspiracy and submitting false documents to a federally insured bank in Topeka, KS, David C. Wittig, chairman and CEO of Westar Energy Inc. resigned over the weekend, two weeks after being put on unpaid administrative leave (see Power Market Today, Nov. 15; Nov. 8).
Dynegy Fires 6, Disciplines 7 Others for False Reports; Exits Canadian Gas Marketing
Dynegy Inc. disclosed late in the day Friday that it had dismissed six employees and will discipline seven others in its natural gas trading business for violations of company policies. The violations are related to previously disclosed findings by the company that some employees in the marketing and trading unit provided inaccurate information on natural gas trades to various energy publications that compile and report index prices.
ICE Adds New ‘Fair Trading’ Rules
IntercontinentalExchange (ICE) said last Thursday it is implementing a number of “fair trading” initiatives to detect false trades and ensure the validity of trades and prices recorded on its commodity trading platform.
ICE Adds New ‘Fair Trading’ Rules
IntercontinentalExchange (ICE) said Thursday it is implementing a number of “fair trading” initiatives to detect false trades and ensure the validity of trades and prices recorded on its commodity trading platform.
Futures Spring Higher After False Breakout Lower
For just the second time in three months, natural gas futuresposted a net gain for the week ending Friday as traders foughttheir way out of a bear trap that enticed more than a few sellersthe week prior. After plumbing to new three-and-a-half-month lowsdown to $4.87 on March 15, the April contract surged higher lastweek to close at $5.273.
May Tests Support, Then Rebounds 6.6 Cents
Gas futures observers concluded Tuesday’s 6.7-cent slide was afalse breakout to the downside because May was unable to breakthrough support yesterday at $2.82 and rebounded a healthy 6.6cents on the day to $2.888. The high for the day was $2.900, whilethe low was $2.820. The three-month summer strip rose 5.7 cents to$2.918.
False Breakout Spawns Futures Profit-Taking
It was no secret what bull traders in the natural gas pit had todo yesterday in order to propel the market higher; the charts toldthe story.