Terra-Gen Pays $5.6M for CAISO Manipulation
Why it matters: Terra-Gen will pay $5.6 million to settle charges of market manipulation in the CAISO market.
- Terra-Gen is set to pay $5.6 million to resolve market manipulation allegations.
- The Federal Energy Regulatory Commission (FERC) accused Terra-Gen of failing to store electricity in a battery system when power prices were high.
- The CAISO market was impacted by Terra-Gen's alleged non-compliance with electricity storage orders.
Terra-Gen, a renewable energy company, will pay $5.6 million to settle charges of market manipulation brought by the Federal Energy Regulatory Commission (FERC). The company allegedly failed to comply with orders to store electricity in a battery system during periods of high power prices, impacting the CAISO market.
