TXU abused power market, report says
The Dallas company manipulated the state's wholesale power market, causing at least $70 million in higher electricity prices in the summer of 2005, the report commissioned by the state Public Utility Commission said.
TXU's wholesale arm made a profit of about $19.6 million through its anti-competitive behavior, the report said.
Overall, the investigation said TXU's actions caused wholesale prices statewide to rise an average of 15.5 percent that summer, The Austin (Texas) American-Statesman reported.
"TXU's behavior constitutes market power abuse," special projects Manager Brian Lloyd wrote in a memo about the 37-page report.
The report could lead to fines of up to $25,000 per day per violation.
TXU rejected the report's allegations, saying it "thoroughly reviewed" its conduct and believed it was "consistent with the commission's rules and policies."
Related News

LNG powered with electricity could be boon for B.C.'s independent power producers
VANCOUVER - B.C. has abundant clean power – if only there was a way to ship those electrons across the sea to help coal-dependent countries reduce their emissions.
Natural gas that is liquefied using clean hydro and wind power and then exported would be, in a sense, a way of embedding B.C.’s low emission electricity in another form of energy.
Given the increased demand that could come from an LNG industry – especially one that moves towards greater electrification – poses some potentially big opportunities for B.C.’s clean energy independent power sector, as those attending the Clean Energy Association of…