Vitol to Pay $2.3M for CAISO Market Manipulation
Global Trader Sold Power at a Loss to Cut Congestion Revenue Rights Losses
Investigators questioned why Vitol was seeking to import power into CAISO via Cragview when prices on the node far exceeded those on nearby nodes. | FERC
Jan 8, 2024
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FERC approved $2.3 million in penalties against Vitol and one of its traders for manipulating CAISO's market in 2013 to limit losses stemming from the firm's congestion revenue rights position.