BP plc has requested a rehearing of a July 2016 FERC decision that affirmed the findings of an administrative law judge (ALJ) and levied a $20.16 million fine against the London-based supermajor in a 2008 market manipulation case, asking the Commission to consider changes in law based on two recent cases.
Articles from Manipulation
FERC should not make the “findings” on disputed facts and issues in a case involving Total Gas & Power North America Inc. (TGPNA), as previously recommended by enforcement staff, and should instead dismiss most of staff’s claims, pursuing any remaining allegations in federal district court, the company said in a motion filed with the agency Tuesday.
Staff of FERC’s Office of Enforcement (OE) sought to recover more than $567 million in civil penalties and $45 million in disgorgement through litigation work in Fiscal Year 2016. The most significant shift in the nature of the Division of Investigations (DOI) work during the year was the amount of time spent litigating in federal District Court, OE officials said Thursday.
The U.S. Court of Appeals for the Ninth Circuit in California last Thursday continued to uphold penalties against market manipulation dating back to the western energy crisis of 2000-01.
Total Gas & Power North America Inc. (TGPNA) has asked a federal district court judge to reconsider a decision that the company may not defend itself against FERC enforcement staff allegations of natural gas trading manipulation in court — a conclusion that would effectively return the case to the Commission.
Total Gas & Power North America Inc.’s (TGPNA) efforts to move its defense against FERC enforcement staff allegations of three years of natural gas trading manipulation from the regulatory agency to a federal district court were hamstrung Friday when the court tossed out that request.
BP plc has been fined $20.16 million and ordered to disgorge another $207,169 by FERC after the agency found affiliates of the company had gamed the market for natural gas at the Houston Ship Channel (HSC) in 2008 after Hurricane Ike, a decision the London-based supermajor says it will continue to challenge.
Affiliates of BP plc gamed the market for natural gas at the Houston Ship Channel (HSC) during two and a half months in 2008 after Hurricane Ike in “…a classic case of physical for financial benefits,” a FERC administrative law judge (ALJ) said Thursday. The ALJ opinion is not final and is subject to Commission review. BP strongly objected and will appeal the judgement.
The U.S. Supreme Court is being asked to review a decision this year by the U.S. Court of Appeals for the Ninth Circuit that revived state law challenges regarding companies that may have fixed natural gas prices during the energy crisis in 2000-2002.