JP Morgan probe highlights Ferc power trading crackdown

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The US Federal Energy Regulatory Commission (Ferc) is investigating JP Morgan Chase over allegations that the bank adopted abusive bidding practices in the California and Midwestern power markets, costing consumers at least $73 million, according to a lawsuit filed by Ferc this week.

The entities that oversee the two markets – the California Independent System Operator (Caiso) and the Midwest Independent Transmission System Operator (Miso) – exposed the abusive practices last year, but Ferc's

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