Dynergy CFO to settle fraud charges
SANTA ROSA, CALIFORNIA - A former chief financial officer of energy company Dynegy Inc. is paying $376,560 to settle federal regulators' charges that he played a role in an alleged $300 million fraudulent accounting scheme in 2001.
The Securities and Exchange Commission announced the settlement with the former finance chief, Robert Doty Jr., who agreed to pay a civil fine of $120,000 and restitution of $200,000 plus $56,560 in interest. Doty also was barred for five years from serving as an officer, director or accountant of any public company.
Two other former Dynegy executives, former vice president of taxation Gene Foster and former in-house accountant Helen Sharkey, also settled the SEC's charges.
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NL Consumer Advocate says 18% electricity rate hike 'unacceptable'
St. Johns - How much of a rate hike is reasonable for users of electricity in Newfoundland and Labrador?
That's a question before the Public Utilities Board (PUB) as it examines an application by Newfoundland and Labrador Hydro, which could see consumers pay up to 18.6 per cent more as of July 1.
"The estimated rate increase for July 2017 is such a significant increase that it may be argued that it would cause rate shock," said the PUB, asking the company to revise its application.
NL Hydro said the price adjustment is part of what happens every year through the Rate Stabilization Plan (RSP),…
