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Raising the specter of Enron’s intrusion into the California energy market a decade ago, the Federal Energy Regulatory Commission (FERC) is investigating allegations that JPMorgan Chase & Co. manipulated the state’s market in 2010-2011 for millions of dollars in windfall profits.
Papers filed in federal court said the bank’s bidding practices may have inflated electricity costs by more than $57 million, but that just covers a six-month period. Some estimates put the cost [...]
