Utility Accused of Inflating Power Prices
Bloomberg News/Reuters
Echoing similar charges in California, Pennsylvania regulators said PPL Corp.’s Pennsylvania utility may have manipulated wholesale power prices in early 2001.
The case will be sent to the Justice Department and also will be referred to the Federal Energy Regulatory Commission and Pennsylvania’s attorney general, Pennsylvania’s Public Utility Commission said.
PPL denied wrongdoing.
PPL shares fell $1.35, or 4%, to $31.86 on the NYSE.
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