Tuesday, October 9, 2007
Dallas-based Energy Transfer Partners responds to federal investigation
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DALLAS — Energy Transfer Partners, L.P. confirmed that today it had delivered its response to the Federal Energy Regulatory Commission (FERC) “Order to Show Cause” filed on July 26, 2007. FERC started an investigation in July regarding Energy Transfer Partner's role in manipulating the energy market in 2003, 2004 and 2005. FERC proposed fines of up to $167 million.
Photo not provided by FERC, Energy Transfer Partners
The company is accused of manipulating the energy market in 2003, 2004 and 2005
Energy Transfer, predictably, claims its response decisively refutes FERC’s claims and shows that FERC’s positions are fundamentally flawed.
“As we stated at the time the Order was received, we believe FERC’s allegations are entirely unfounded. Our detailed response is an important first step in setting the record straight and making the facts clear,” said Jerry Langdon, Energy Transfer Partners, Chief Administrative and Compliance Officer. “We look forward to an objective review by FERC and believe the evidence will show that our conduct was appropriate.”
ETP expects its complete response to the FERC to be made available in the eLibrary on FERC’s website, docket number IN06-3-002.
Source: Energy Transfer Partners
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