FERC Suspends JPMorgan Unit’s Power-Trading Authority
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The U.S. Federal Energy Regulatory Commission yesterday suspended a JPMorgan Chase & Co. unit’s electricity-trading authority, saying it had filed false information to regulators.
The action, part of a more aggressive effort by the commission to monitor U.S. power markets, prohibits J.P. Morgan Ventures Energy Corp. from selling electricity at market-based rates for six months starting April 1, 2013.