Initial Decision Finds that BP Manipulated 2008 Natural Gas Market in Texas

By Doron Ezickson, Paul Pantano, Sohair Aguirre and Mary Treanor

On August 13, 2015, a  Federal Energy Regulatory Commission (“FERC” or “Commission”) Administrative Law Judge (“ALJ”) issued an initial decision in which she found that BP America Inc. et al. (“BP”) manipulated the natural gas market in Texas for over two and a half months in 2008. ALJ Carmen A. Cintron concluded that BP intentionally sold large volumes of next-day, fixed-price physical gas to suppress the physical gas index to benefit BP’s corresponding short financial positions, in violation of Section 4A of the Natural Gas Act and Section 1c.1 of the Commission’s regulations.  read more

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