1. ENERGY MARKETS
Fla. company admits Calif. manipulation in $3.4M settlement
A Florida power company today became the first utility to admit manipulating California electricity markets in a $3.4 million settlement that showcases federal regulators' enhanced oversight of energy trading. Gila River, a subsidiary of Tampa-based Entegra Power Group LLC, admitted to gaming California's markets between July 2009 and October 2010, the Federal Energy Regulatory Commission said. The company agreed to pay a $2.5 million fine and relinquish $900,000 or so in unjust profits and interest, FERC said.