Federal Energy Regulatory Commission (Ferc)
Macquarie acquires Barclays US power trading book
Macquarie is deepening its involvement in North American energy by snapping up an electricity trading book from Barclays, which is said to include tolling agreements with power plant operators
JP Morgan exits power markets with Mercuria deal
Electricity firms are gloomy about JP Morgan’s departure from power markets, saying trading houses and oil majors are not providing the same level of liquidity as banks once did
CFTC and Ferc see a changing of the guard
GDF Suez hires SG energy derivatives head; Citi appoints in commodity sales; BNP Paribas recruits investor sales head; Marex Spectron adds meteorologist; Freepoint gains oil trader
Power companies slam New England reliability plan
Electricity companies are criticising "unreasonable" and "discriminatory" measures designed to keep New England's lights on during the coming winter, arguing in favour of a longer-term fix
Energy firms use high-tech tools to avert manipulation fines
As regulators tighten their scrutiny of commodities trading and impose costly penalties for market manipulation, energy firms are stepping up investment in trade surveillance. But properly implementing trade surveillance systems in commodity markets is…
CFTC accord bolsters Ferc drive to catch manipulation
Memorandum of Understanding with US Commodity Futures Trading Commission on information sharing has been "extremely useful" for energy regulator, says Federal Energy Regulatory Commission's deputy director of surveillance
FTR underfunding leaves PJM power traders out of pocket
Energy firms in the eastern US are upset about the underfunding of financial transmission rights (FTRs) in the PJM power market, saying it has made FTRs useless as a hedging tool. But even though its price tag has exceeded $1 billion, the problem shows…
Power trading firm blasts Ferc over manipulation probe
Ferc investigation triggers unusual public defence by obscure power trading firm
Enforcement director nominated for Ferc chair
Centrica hires Hess market risk director; Vattenfall names trading head; Gazprom recruits BAML power trader; Baltic Exchange names Singapore head; Mitsubishi UFJ in commodity retreat
CFTC-Ferc deal leaves enforcement question unanswered
Agreements reached under US Dodd-Frank Act fail to address critical issue of enforcement
US power firms slam ISO New England over market ‘flaws’
Winter reliability at risk due to problems with real-time pricing, market participants warn
EU energy firms face uphill struggle to comply with market abuse rules
The European Union is implementing new legislation and adopting an increasingly aggressive stance on energy market abuse. But the continent’s energy trading firms face an uphill struggle to comply with the rules. Stella Farrington reports
Power market design leads traders to take advantage
The design of modern power pools is highly complex, creating plenty of opportunities for clever traders to profit by circumventing the rules, writes Vincent Kaminski
Ferc targets power market gaming with JP Morgan fine
Record $410 million settlement demonstrates zero-tolerance approach towards exploitation of market design flaws
Ferc chairman to step down
Glencore Xstrata poaches Morgan Stanley LNG team; CME Group adds former bank commodity head; Tullett Prebon hires Icap weather broker; LME chief executive resigns; SEB replaces commodity chief
Uneconomic trading, market manipulation and baseball
Regulators, including the US Federal Energy Regulatory Commission, are aggressively targeting uneconomic trading in a crackdown on potential market manipulation. Such moves have striking parallels in the history of baseball - some of which might prove…
Ferc chief Wellinghoff to step down
Chairman who presided over more aggressive stance on power market manipulation to step down, agency says
Energy Risk USA: Official sheds light on Ferc manipulation sleuths
Ferc is now monitoring markets in near real time for evidence of manipulation, warns enforcement official
Ferc ruling raises hope of greater regulatory certainty
The US Federal Energy Regulatory Authority has seen its authority sapped by squabbles over turf – most recently, losing a court battle over an attempt to fine Brian Hunter, a former natural gas trader at imploded hedge fund Amaranth Advisors. Could there…
Ferc won’t appeal Hunter ruling, says Wellinghoff
Ferc chairman says agency won’t appeal ruling against it, but will seek to persuade Congress to change the law
Hunter ruling may slow Ferc’s anti-manipulation push
A court decides the US Federal Energy Regulatory Commission overstepped its authority in trying to prosecute manipulation in natural gas futures - a ruling with implications for other cases
'Uneconomic trading' at issue in Barclays power dispute
Barclays seeks to defend itself against power market manipulation allegations by contesting regulator’s pursuit of uneconomic trading
Ferc cracks down on power market manipulation
The US Federal Energy Regulatory Commission has declared war on power market abuse, targeting allegations of manipulation by firms including Barclays, Constellation Energy and Deutsche Bank. Further investigations are expected to follow as the agency…