A number of Congressional lawmakers have expressed concern about the extent of the Federal Energy Regulatory Commission’s jurisdiction in cases involving the manipulation of the futures and physical gas markets, said Commission spokeswoman Mary O’Driscoll.
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FERC, BP Dispute 2008 Gas Market Manipulation Charges
FERC Monday ordered BP America Inc. and affiliates to show cause in a long-running case [IN13-15] involving the alleged gaming of the physical and financial markets at the Houston Ship Channel (HSC). The Commission proposed a near-$29 million penalty for transactions taking place from mid-September 2008 through Nov. 30, 2008.
Energy Transfer ‘Disgusted’ by FERC Enforcement Conduct
With the ink barely dry on FERC’s settlement of the manipulation charges against Energy Transfer Partners LP (ETP), the Dallas-based energy company Tuesday expressed strong dissatisfaction with the way the agency’s enforcement staff handled the case.
Vista Marketing Defends Role of Traders
Following FERC queries as to the role in their organizations of two former traders who pleaded guilty in 2006 to attempted natural gas price manipulation while employed by other marketing companies, Vista Energy Trading LP (VET) has withdrawn its FERC application for market-based rate authority while Vista Energy Marketing LP (VEM) has structured its operations to conform to a consent order restricting the market activity of the traders (see Daily GPI, March 2).
Amaranth LLC Urges FERC to Dismiss Manipulation Charges
Amaranth LLC, also known as “the Fund,” Monday asked FERC to dismiss charges that it shares the responsibility for Amaranth Advisors’ alleged manipulation of the New York Mercantile Exchange (Nymex) natural gas futures contract, which subsequently influenced the price of jurisdictional physical gas transactions in 2006.
Trader Files Lawsuit Against Energy Transfer for Alleged Manipulation
An energy trader has filed a lawsuit against Dallas-based Energy Transfer Partners LP and affiliates for alleged manipulation of the prices of natural gas futures contracts on the New York Mercantile Exchange (Nymex).
Trader Files Lawsuit Against Energy Transfer for Alleged Manipulation
An energy trader has filed a lawsuit against Dallas-based Energy Transfer Partners LP and affiliates for alleged manipulation of the prices of natural gas futures contracts on the New York Mercantile Exchange (Nymex).
CMS Field Services Traders Fined in Price Reporting Case
Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.
CMS Field Services Traders Fined in Price Reporting Case
Commodity Futures Trading Commission (CFTC) charges of attempted gas market manipulation against two former CMS Field Services Inc. employees have been settled by consent orders issued in U.S. District Court in Tulsa.
CFTC Dodges Congressional Bullet; FERC Fails to Duck
While the written response of the Commodity Futures Trading Commission (CFTC) to a Senate Energy Committee request for information about market manipulation was similar to that of FERC in saying it would be illegal for them to divulge details of preliminary investigations, the CFTC won a pass from the committee by offering to provide private confidential briefings for the congressional committee. FERC did not.