Maxim Power: Manipulation Charges Leveled by FERC Staff Are Unprecedented and Predicated on “Impressions”; OE Staff Returns Dismissive Volley in Similar Powhattan Case

摘要

In response to a show cause order, initiated by an investigation conducted by the FERC’s Office of Enforcement (OE), Maxim Power Corp. answered that a market manipulation case “should not be based on impressions but on hard unambiguous facts and literal, unforced applications of the law to conduct with no legitimate business purpose.” And such cases only should be brought where the party charged with manipulation was on fair notice that the challenged conduct was unlawful. Anything less would be “not only fundamentally unfair, but demonstrably vulnerable in court,” as is the case with respect to OE Staff’s claims in its case, argued the power generator firm in a March 4 response to its accuser. Maxim Power Corp, Maxim Power (USA), Inc., Maxim Power (USA) Holding Co. Inc., Pawtucket Power Holding Co., LLC, Pittsfield Generating Co., LP, and Kyle Mitton (IN15-4).