FERC Orders $453 Million in Penalties for Western Power Market Manipulation

The Federal Energy Regulatory Commission has ordered Barclays Bank PLC to pay $453 million in fines for manipulating the western markets between 2006 and 2008. Barclays has 30 days to submit payment to the U.S. Treasury. The penalties will be distributed to the Low-Income Home Energy Assistance Programs of Arizona (19%), California (63%), Oregon (9%), and Washington (9%).

Date Posted: 7/24/2013