FERC obtained more than $148 million in civil penalties and disgorgement of more than $119 million in unjust profits in fiscal year (FY) 2012, according to the agency’s annual report on enforcement, which was released last Thursday.
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$277M in Penalties, Disgorged Profits Collected by FERC in FY2012
FERC obtained more than $148 million in civil penalties and disgorgement of more than $119 million in unjust profits in fiscal year (FY) 2012, according to the agency’s annual report on enforcement, which was released Thursday.
KeySpan to Pay Millions for Antitrust Violation
KeySpan Corp. has been ordered to disgorge unjust profits and pay $12 million for an antitrust violation that involved the taking of a financial interest in the electricity capacity sales of its largest competitor in the New York City market, a move that likely led to higher retail electricity prices in the city over a two-year period, the Department of Justice (DOJ) said last week.
Columbia Pipes Hit with $1M Penalty, $9M Disgorged Profits
FERC last Thursday ordered Columbia Gas Transmission to disgorge $9 million in unjust profits for alleged violations of its parking and lending (PAL) service tariff between 1998 and 2003, and directed Columbia Gas and sister pipeline Columbia Gulf Transmission to pay a civil penalty of $1 million for violations related to their nominations and discount posting practices.
Columbia Pipes Hit with $1M Penalty, $9M Disgorged Profits
FERC Thursday ordered Columbia Gas Transmission to disgorge $9 million in unjust profits for alleged violations of its parking and lending (PAL) service tariff between 1998 and 2003, and directed Columbia Gas and sister pipeline Columbia Gulf Transmission to pay a civil penalty of $1 million for violations related to their nominations and discount posting practices.
CFTC Collects Record Fines, Disgorged Profits in FY 2008
The federal government obtained a record of more than $630 million in civil penalties, restitution and disgorgement of unjust profits in fiscal year (FY) 2008 from companies and traders that engaged in fraud, manipulation and other misconduct in the futures markets, including energy futures, the Commodity Futures Trading Commission (CFTC) reported last Thursday.
CFTC Collects Record Fines, Disgorged Profits in FY 2008
The federal government obtained a record of more than $630 million in civil penalties, restitution and disgorgement of unjust profits in fiscal year (FY) 2008 from companies and traders that engaged in fraud, manipulation and other misconduct in the futures markets, including energy futures, the Commodity Futures Trading Commission (CFTC) reported Thursday.
CUB Seeks $143 Million in Customer Refunds From Nicor Gas
Continuing to rally against allegedly unjust practices by Nicor Gas, the Citizens Utility Board (CUB) claims that the utility owes customers $143.3 million in refunds, or about $75 for the average customer, as a result of a complicated scheme the company allegedly embarked on to defraud consumers at a time when they were paying record high gas prices.
CUB Seeks $143 Million in Customer Refunds From Nicor Gas
Continuing to rally against allegedly unjust practices by Nicor Gas, the Citizens Utility Board (CUB) claims that the utility owes customers $143.3 million in refunds, or about $75 for the average customer, as a result of a complicated scheme the company allegedly embarked on to defraud consumers at a time when they were paying record high gas prices.