LAWSUITS NEWS & LEGAL INFORMATION
Energy Excess
San Francisco, CA: (Mar-11-08) The US Federal Energy Regulatory Commission brought charges against Constellation Energy Group Inc., alleging that there were capacity release violations at its retail natural gas subsidiary. Constellation Energy, a Baltimore-based energy provider, allegedly discovered the violations in an internal compliance review and voluntarily reported them to the Federal Energy Regulatory Commission.
Sources stated that the parties had reached a settlement agreement in the case, in which Constellation Energy will pay a civil penalty of $5 million. Additionally, it will also pay $1.9 million in revenue related to the non-compliant transactions to various state energy assistance programs. Further terms of the deal state that in addition to ensuring FERC compliance, Constellation Energy introduced several organizational changes, including improving compliance related functions. [CNN MONEY: CONSTELLATION ENERGY UNIT TO PAY $6.9 MILLION IN FERC SETTLEMENT]
Published on Mar-12-08
Sources stated that the parties had reached a settlement agreement in the case, in which Constellation Energy will pay a civil penalty of $5 million. Additionally, it will also pay $1.9 million in revenue related to the non-compliant transactions to various state energy assistance programs. Further terms of the deal state that in addition to ensuring FERC compliance, Constellation Energy introduced several organizational changes, including improving compliance related functions. [
Legal Help
If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.Published on Mar-12-08
