FERC finds fraud in New England capacity market – declines to impose penalties
01 December 2011Energy Alert
On 29 November 2011, the Federal Energy Regulatory Commission (FERC) approved a US$336,367.86 settlement between FERC's Office of Enforcement (FERC-OE) and Holyoke Gas and Electric Department (Holyoke) resolving allegations that Holyoke violated FERC's Prohibition of Electric Energy Market Manipulation, 18 C.F.R. § 1c.2. FERC-OE concluded that Holyoke's failure during 2008 and 2009 to report to ISO New England, Inc. (ISO-NE) three planned outages of two generating units serving as ISO-NE capacity resources constituted energy market manipulation because Holyoke continued to offer the units' generation for dispatch by ISO-NE while the units were out of service.
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