Chapter 1 in The Guide to Energy Market Manipulation
Published in Global Competition Review
Reproduced with permission from Law Business Research Ltd. This chapter is extracted from the first edition of GCR’s The Guide to Energy Market Manipulation, first published in March 2018 and edited by Gordon Kaiser.
Morrison & Foerster’s Bob Fleishman recently co-authored the first chapter in GCR’s The Guide to Energy Market Manipulation, the first of its kind in surveying a new and complex form of regulation that applies to one of the most important industry sectors in the world.
For more than a decade, the Federal Energy Regulatory Commission (FERC) has vigorously enforced the laws and regulations using new tools authorised by Congress in 2005 governing the wholesale electricity and natural gas markets in the United States subject to its jurisdiction. FERC’s Office of Enforcement focuses its efforts on four principal areas: (1) fraud and market manipulation; (2) serious violations of mandatory reliability standards; (3) anticompetitive conduct; and (4) conduct threatening the transparency of FERC-regulated markets. In this chapter, we provide perspectives on FERC’s enforcement programme as it relates to fraud and market manipulation and highlight key issues based on our experience as counsel prosecuting and defending clients in FERC investigations, proceedings and litigation. We conclude by identifying certain helpful resources.
The whole publication is available at Global Competition Review.