The Federal Energy Regulatory Commission (FERC) has threatened to revoke the trading licenses of four energy traders. FERC says that Avista, El Paso Electric Co., Portland General Electric and Williams have failed to fully respond to the agency's requests for information in its investigation of energy-trading practices in the West. The companies have 10 days to show why the FERC should not revoke their market-based rate authority. The revocation of this authority would hurt the companies' ability to trade energy on the national market.
Williams released a statement saying it disagrees with the FERC's claim that it is being uncooperative. Portland General Electric said that it found no evidence of deception or market manipulation on its part and that it spent countless man-hours compiling the information FERC requested.
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