Federal Energy Regulatory Commission Chairman Neil Chatterjee said the agency's work to guard against market manipulation remains robust even as a new FERC staff report showed a drop in fiscal year 2019 penalties compared with the annual average since 2007. On Thursday, staff with FERC's Office of Enforcement released their 13th annual report on the agency's enforcement activity. Among other key takeaways, the Office of Enforcement opened 12 new investigations in FY-19 and closed 14 investigations without further action, down from 24 newly opened investigations and 23 closed investigations in FY-18. In FY-19, the commission approved two settlement agreements between the Office of Enforcement and energy market subjects that totaled more than $14 million, including $7.4 million in civil penalties and $7 million in disgorgements. That figure is compared with $783.4 million in civil penalties and about $518 million in disgorgements since 2007, for annual averages of $65.3 million and $43.2 million, respectively.
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