FERC Staff Investigation "Preliminarily Determine[s]" Violation by Energy Trader

FERC issued a public notice of alleged violations stating that a non-public, informal investigation by Staff of FERC's Office of Enforcement, "has preliminarily determined that Louis Dreyfus Energy Services, L.P. (LDES) violated 18 C.F.R. § 1c.2 (2013) by placing virtual trades in MISO at a node in North Dakota to affect the value of its nearby Financial Transmission Rights (FTRs) during the period November 2009 to February 2010."

At the time the conduct occurred, LDES was a wholly-owned subsidiary of Louis Dreyfus Highbridge Energy.

As is typical of the notices, FERC did not provide any additional details.