American Electric Power Company Inc.

American Electric Power Company Inc. has settled investigations into its natural gas venture. The company settled with various regulatory branches of the U.S. government for a grand total of $81million. $30 million is to be allotted to both the U.S. Justice Department and the Commodity Futures Trading Commission, with the final $21 million being paid to Federal Energy Regulatory Commission. The settlements come from investigations into a couple of incidents which occurred earlier in the company's history. One of the incidents in question, which occurred in 2002, was the discovery of five gas traders working for American Electric Power who were misinforming trade publications with false data. Even though American Electric Power fired the employees in question and reported the activities to the proper regulators, the investigation was still conducted. The other incident was the alleged favouring of other American Electric Power companies in regards to the sale of natural gas storage and transport. The company released a statement saying that the company "is very different" than it was a few years back. [COLUMBUS BUSINESS JOURNAL]

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