JPMorgan at centre of power market probe

JPMorgan at centre of power market probe The US electricity regulator has subpoenaed JPMorgan Chase twice in the past three months as it investigates whether the bank manipulated power markets in California and the Midwest region, court filings show.

The filings mark the first time the Federal Energy Regulatory Commission has revealed its formal probe into JPMorgan bidding practices, which it says may have inflated electricity costs by at least $73m.

http://link.ft.com/r/2SRI11/HYASMJ/UUPHQX/NJOGEG/AMOKT8/PJ/h?a1=2012&a2=7&a3=3