In a ruling that could affect future FERC enforcement actions, a federal judge in Massachusetts denied a motion by the regulatory agency to compel Maxim Power Corp. and its subsidiaries to pay $5 million in fines for allegedly manipulating power markets in New England in 2010.
Maxim
Articles from Maxim
FERC Orders Power Generator to Pay $5M for Market Manipulation Scheme
In a 65-page decision issued on Friday, FERC ordered Calgary-based Maxim Power Corp. to pay a $5 million penalty for manipulating New England power markets in 2010 by falsely selling electricity at oil-generated rates instead of charging for the lower-cost natural gas it was burning.
FERC Orders Power Generator to Pay $5M for Market Manipulation Scheme
In a 65-page decision issued on Friday, FERC ordered Calgary-based Maxim Power Corp. to pay a $5 million penalty for manipulating New England power markets in 2010 by falsely selling electricity at oil-generated rates instead of charging for the lower-cost natural gas it was burning.
Despite Cold, Traders Initiate Shorts on Long-Lead Bear Forecasts
A maxim in futures trading reads that “there is always a big enough paddle in this business for everyone” and today’s surging futures prices show how easily adverse moves can impact the most senior traders.
KCC Votes Against Customer Choice
Following the Tortoise and the Hare maxim that slow and steadyoften wins the race, the Kansas Corporation Commission (KCC) hasdecided to approach retail competition at a turtle’s pace. The KCClast week tossed out the idea of installing statewide customerchoice and instead chose to leave open the possibility that MidwestEnergy, one of the state’s many LDCs, can, if it so chooses, filean application for a small retail pilot program.
Kansas Regulators Vote Against Statewide Customer Choice
Following the Tortoise and the Hare maxim that slow and steadyoften wins the race, the Kansas Corporation Commission (KCC) hasdecided to approach retail competition at a turtle’s pace. The KCClast week tossed out the idea of installing statewide customerchoice and instead chose to leave open the possibility that MidwestEnergy, one of the state’s many LDCs, can, if it chooses, file anapplication for a small retail pilot program.