FERC Says PSEG Subsidiary Made False Statements over 9-Year Period

A federal agency is alleging a subsidiary of Public Service Enterprise Group made false and misleading statements in bidding into the nation’s largest energy market, a process that helps determine how much consumers pay for electricity.

The Federal Energy Regulatory Commission’s staff issued a preliminary notice of alleged violations by PSEG Energy Resources & Trade LLC, the company’s trading arm, over a nine-year period from early 2005 until March 2014.

The notice, issued late Thursday, comes at an inopportune time for PSEG, which is hoping to win approval this week from both houses of the Legislature of a much-debated bill that would allow its nuclear plants to gain $300 million a year in ratepayer subsidies.

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