BP faces $28m in fines for alleged gas market manipulation

Oil giant BP has been threatened with a fine worth $28 million (£18.2m) by the US energy regulator for allegedly manipulating the natural gas market in 2008. The Federal Energy Regulatory Commission (FERC) alleges BP tried to increase the value of its gas contracts by manipulating the price through false trades in the Houston Ship […]

US bank to pay $410m to settle power rigging probe

A US bank is to pay $410 million (£270.8m) to settle allegations it manipulated energy markets in California and the Midwest from September 2010 to November 2012. The US Federal Energy Regulatory Commission (FERC) said JPMorgan Ventures Energy Chase Corporation (JPMVEC) would pay the amount in “penalties and disgorgement” to taxpayers for allegations of market […]

Barclays’ $453m fine for allegedly rigging US energy market

Barclays Bank and four of its traders have been ordered to pay $453 million (£298m) by the US energy regulator for allegedly manipulating electricity prices. The bank must pay $435 million (£286m) in penalties to the US Treasury within 30 days, one of its traders must pay $15 million (£9.87m) whilst the other three $1 […]