The Federal Energy Regulatory Commission has fined Durham-based American Efficient $722 million and ordered the company to repay more than $410 million in “unjust profits” for alleged fraud in its energy efficiency program.
In an April 15 ruling, FERC claims American Efficient withheld key information from electric grid operators that allowed the company to manipulate energy markets.
An American Efficient spokesperson said the company “stands by its position that the commission’s allegations are meritless and that it did not commit any wrongdoing.”…