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Monday, Jul 29
FERC accusing JPMorgan of electricity price manipulation
- The energy regulator alleges JPMorgan engaged in "eight manipulative bidding strategies" in 2010-11 aimed at getting electricity providers in California and the Midwest to overpay.
- The WSJ previously reported JPMorgan is expected to settle with FERC for $410M + the relinquishing of ~$200M in unpaid electricity claims.
- FERC recently ordered Barclays and four of its traders to pay $487.9M over alleged price manipulation that took place from 2006-08.