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.
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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.
May 4, 2015
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