Lincoln Paper in Maine faces $4.4M in penalties for manipulating energy market five years ago says federal agency

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Lincoln Paper in Maine faces $4.4M in penalties for manipulating energy market five years ago says federal agency

July 18, 2012 - 10:51
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LINCOLN, ME, July 18, 2012 (Bangor Daily News) -The Federal Energy Regulatory Commission is seeking $4.4 million in civil penalties plus $379,016 in "unjust profits" made by Lincoln Paper & Tissue LLC, alleging in documents released Wednesday that the papermaker fraudulently manipulated the energy market with electricity it sold to the New England power grid five years ago.

LP&T President and CEO Keith Van Scotter said FERC's allegations were part of a dispute with the energy regulatory body over interpretations of guidelines for an ISO New England power management plan the company had participated in.

"This is stuff that is 5 years old. The last conversation we had with them was almost two years ago. We are very upset and we strongly dispute their findings," Van Scotter said Wednesday.

Bangor Daily News - FERC claims Lincoln Paper manipulated energy market, seeks $4.4M in penalties

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