Six-Year Old Case Alleging BP Price Manipulation Going Another Round

摘要

The six-year old FERC case over allegations that BP America Inc. manipulated Houston Ship Channel (HSC) prices continued Monday in a hearing before an administrative law judge on whether to limit the Office of Enforcement’s (OE) request for five years of price data from the IntercontinentalExchange Inc. (ICE) and McGraw-Hill’s Platts gas publications. At the same time, BP America and its affiliates filed an appeal Friday to the Federal Energy Regulatory Commission (FERC) itself for rehearing of the May 15, 2014 order setting the case for hearing, claiming the Commission had acted outside its jurisdiction, and attacking “enforcement’s staff’s flawed theory of manipulation.” BP also attacked FERC for “failing to provide meaningful notice of allegedly impermissible behavior.”