Terra-Gen agreed to pay $5.6 million to settle allegations that it manipulated the California Independent System Operator’s market, according to a settlement agreement the Federal Energy Regulatory Commission approved on Tuesday.
The agency’s enforcement office alleged Terra-Gen told CAISO a battery system wasn’t working on certain days so it wouldn’t have to buy high-priced power on those days.
Terra-Gen also violated FERC’s “duty of candor” rule in a compliance report to the agency related to an earlier settlement agreement. The report failed to disclose that CAISO’s market monitor had new concerns about the company’s market behavior, according to FERC…