Slapped

FCStone LLC, a New York City-based futures commission merchant (FCM), has been slapped with a $1.5 million civil penalty by the Commodity Futures Trading Commission (CFTC) for “failing to diligently supervise its officers and employees” relating to its business as an FCM during 2008 and part of 2009.

BP plc said last week it would appeal after federal officials slapped the producer with two additional charges involving five incidents of noncompliance (INC) related to the April 2010 Macondo well blowout in the deepwater Gulf of Mexico (GOM).

BP plc said Wednesday it would appeal after federal officials on Wednesday slapped the producer with two additional charges involving five incidents of noncompliance (INC) related to the April 2010 Macondo well blowout in the deepwater Gulf of Mexico (GOM).

Washington’s Utilities and Transportation Commission (UTC) on Wednesday slapped a $104,300 penalty on Bellevue, WA-based Puget Sound Energy (PSE) for violating an order directing it to correct the use of its “refusal of service” requirements. The UTC action alleges that PSE in October 2010 provided “inaccurate or misleading information” to some of its customers, including low-income people, regarding how much they were required to pay to reconnect their gas and electric utility service. In addition, the regulators alleged that the combination utility misled or inaccurately informed customers who had been disconnected for nonpayment. UTC ordered the utility to correct the mishandling of 26 customer accounts, all of which were part of a random sampling of hundreds of disconnected customer accounts. The state regulatory panel said a UTC staff investigation subsequently found that PSE had “failed to correct its mishandling” of the accounts, and alleged that the utility committed 515 violations.

North American natural gas producer EnCana Corp. has been slapped with an environmental charge alleging that the company constructed a natural gas pipeline through a wildlife area in southeastern Alberta without a permit.

North American natural gas producer EnCana Corp. has been slapped with an environmental charge alleging that the company constructed a natural gas pipeline through a wildlife area in southeastern Alberta without a permit.

In its first exercise of expanded penalty authority granted by the Energy Policy Act of 2005 (EPAct), FERC last week slapped $22.5 million in fines on five power companies for violations of open access transmission tariffs, rules and standards of conduct. It also warned gas companies that they they too are being watched.

Royal Dutch/Shell Group has agreed to pay a total of $151 million in final settlements with the U.S. Securities and Exchange Commission (SEC) and UK regulators for its overstatement of proven oil and natural gas reserves during a five-year period.

Royal Dutch/Shell Group agreed on Tuesday to pay a total of $151 million in final settlements with the U.S. Securities and Exchange Commission (SEC) and UK regulators for its overstatement of proven oil and natural gas reserves during a five-year period.