Environment & Energy Report

FERC $29 Million Electricity Market Manipulation Suit Timely (1)

Feb. 11, 2020, 9:03 PMUpdated: Feb. 11, 2020, 10:14 PM

The Federal Energy Regulatory Commission didn’t overstep the statute of limitations in its effort to impose more than $29 million in civil penalties over alleged wholesale electricity market manipulation, an appeals court ruled.

The agency’s claim accrued only after Dr. Houlian Chen and associated financial entities including Powhatan Energy Fund LLC received the penalty and failed to pay within 60 days, the U.S. Court of Appeals for the Fourth Circuit ruled Tuesday. The decision upheld a previous ruling by the U.S. District Court for the Eastern District of Virginia.

“We’re disappointed, but respect the court’s opinion,” said Kevin Gates, who...

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