CFTC to sue AEP over false gas trades


Ohio-based utility American Electric Power (AEP) has been charged with reporting 2,800 false natural gas trades to energy price index companies and with seeking to manipulate gas prices. Each alleged violation could carry a $120,000 civil penalty.

The charges, levied by the US Commodity Futures Trading Commission (CFTC), markthe second time a US regulator has sought to litigate - rather than settle -such a case. The first instance was against bankrupt energy trader Enron.

CFTC alleges that

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