Friday, July 06, 2012

JP Morgan and Wisconsin Electricity Prices

Might be an interesting case to follow--since you're paying for the electricity.

JPMorgan Chase & Co. was ordered by a federal judge to explain why it shouldn’t be compelled to turn over e-mails sought by U.S. regulators in a probe of potential energy-market manipulation. 

...The U.S. Federal Energy Regulatory Commission sued JPMorgan on July 2 to release 25 e-mails in an investigation of possible manipulation of power markets in California and the Midwest by J.P. Morgan Ventures Energy Corp.

Which "midwest"?  The one we live in:

The regulator is examining efforts by Houston-based J.P. Morgan Ventures to extract excessive payments or above-market prices from and Midwest Independent Transmission System Operator Inc. and California ISO,...

While I hold no brief for Fed regulators, the case remains interesting.

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