• FERC Issues Two Show Cause Orders Alleging That "Multiple-Affiliate Bidding" Constitutes Market Manipulation
  • February 25, 2009 | Authors: Neil L. Levy; David G. Tewksbury; Bruce L. Richardson
  • Law Firms: King & Spalding LLP - Washington Office; King & Spalding LLP - Atlanta Office
  • On January 15, 2009, over strongly-worded dissents from two of the five commissioners, the Federal Energy Regulatory Commission (FERC) issued two orders directing the respondents to show cause why they should not be found to have violated FERC's regulations prohibiting market manipulation and other FERC requirements by submitting bids from multiple affiliates in an open season for interstate pipeline capacity and why civil penalties totaling nearly $9 million should not be assessed.