U-T San Diego (http://bit.ly/WxkRuy) says federal regulators announced a settlement Monday with operators of the Gila River Power Station in Arizona. The operators also will return more than $900,000 in profits to California utility customers.
The plant is operated by a subsidiary of Florida-based Entegra Power.
Entegra attorney Jerry Coffey says some transactions raised the price of imported power to the California market. He says market rules are complicated and the violations were inadvertent.
Some analysts say California's energy market remains vulnerable to manipulations like those which caused rolling blackouts a decade ago.
Last week, federal authorities issued a suspension to a JP Morgan Chase subsidiary for submitting false information in a market probe.
Information from: U-T San Diego, http://www.utsandiego.com