August 5, 2013 / 4:03 PM / in 4 years

FACTBOX-Biggest civil penalties by U.S. energy regulator FERC

Aug 5 (Reuters) - U.S. federal energy regulators on Monday ordered BP Plc
 to respond to allegations of natural gas market manipulation, threatening
the energy company with fines near $29 million.
    The Federal Energy Regulatory Commission's (FERC) Office of Enforcement
alleged BP manipulated the natural gas market at the Houston Ship Channel from
mid-September 2008 through November of that year. 
    FERC has issued over $1 billion in fines since the Energy Policy Act of 2005
significantly increased the penalty the commission can impose to $1 million per
day per violation from the prior cap of $10,000 a day.
    FERC imposed the biggest fines on Barclays PLC, JPMorgan and
Constellation Energy over allegations of power market manipulation; Brian Hunter
and BP over allegations of natural gas market manipulation; and Florida power
companies over alleged violations of power reliability standards leading to a
blackout.
    Barclays said it will fight the fine in court. 
    BP also said it will defend the company against the FERC allegations.
    Hunter earlier in 2013 successfully defended himself against the FERC
allegations in federal court. The U.S. Court of Appeals for the District of
Columbia Circuit ruled that the Commodity Futures Trading Commission (CFTC) and
not FERC have the authority to fine him. 
    The following lists the biggest FERC civil penalties since 2007.
    
 Company                   Civil Penalty      Disgorgement       Year
                                                                   
 BP Energy                  $28 million                800,000   2013
 JPMorgan                   $285 million          $125 million   2013
 *Barclays                  $435 million         $34.9 million   2013
 Rumford Paper               $10 million          $2.8 million   2013
 Deutsche Bank              $1.5 million             $173,000    2013
 Gila River Power           $2.5 million             $912,000    2012
 Constellation              $135 million          $110 million   2012
 Xcel Energy                  $2 million                         2012
 Atmos Energy               $6.4 million          $5.6 million   2011
 PacifiCorp                 $3.9 million                         2011
 Brian Hunter                $30 million                         2011
 Noble Energy                 $4 million             $160,000    2010
 Florida Blackout            $25 million                         2009
 Energy Transfer              $5 million           $25 million   2009
 Enserco                    $1.4 million                         2009
 Amaranth                   $7.5 million                         2009
 ProLiance Energy             $3 million             $196,000    2009
 Sequent Energy               $5 million              $54,000    2009
 Piedmont NatGas           $1.25 million                         2009
 Anadarko                   $1.1 million             $232,000    2009
 ONEOK                      $4.5 million          $1.9 million   2009
 Tenaska Marketing            $3 million            $2 million   2009
 Edison Mission               $7 million            $2 million   2008
 Constellation NewEnergy      $5 million          $1.9 million   2008
 BP Energy                    $7 million                         2007
 Cleco                        $2 million                         2007
 Columbia Gulf                $2 million                         2007
 Calpine                    $4.5 million                         2007
 Bangor Gas                   $1 million                         2007
 PacifiCorp                  $10 million                         2007
 SCANA                        $9 million          $1.8 million   2007
 Entergy Services             $2 million                         2007
 NorthWestern Corp            $1 million                         2007
                                                                   
 Total                     $1.05 billion        $315.4 million     
      
    * In addition to the $435 million civil penalty on Barclays, FERC also fined
four of the bank's traders a total of $18 million.

 (Reporting by Scott DiSavino;editing by Sofina Mirza-Reid)

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