Federal Energy Regulatory Commission v. Barclays Bank PLC

AMENDED ORDER

The matter is before the Court on Defendants Barclays Bank PLC (“Barclays”), Daniel Brin (“Brin”), Scott Connelly (“Connelly”), Karen Levine (“Levine”), and Ryan Smith’s (“Smith”) (collectively “Defendants”) Motion to Dismiss or, in the Alternative, to Transfer (ECF No. 44) Plaintiff Federal Energy Regulatory Commission’s (“FERC”) Petition to Affirm Civil Penalties (ECF No. 1). For the reasons discussed below, Defendants’ Motion is DENIED.

BACKGROUND

On July 16, 2013, following a multi-year investigation and proceeding, FERC issued an order assessing penalties against Defendants for engaging in manipulative trading in the electricity market in the western United States from November 2006 to December 2008. FERC now petitions this Court for ah order affirming those penalties. 16 U.S.C. § 823b(d)(3)(B). The relevant background and factual allegations are set forth more fully below.

I. Relevant Markets

As alleged in FERC’s Petition, during the relevant time period, electricity was *1125 traded by Defendants at different locations in the United States, including Mid-Columbia (“MIDC”), Palo Verde (“PV’), South Path 15 (“SP”), and North Path 15 (“NP”). MIDC is a…