France’s energy regulator is penalizing the German unit of global financial services firm JPMorgan Chase for failing to provide sufficient information to a power market survey related to soaring electricity prices.
In a statement, the French Energy Regulatory Commission (CRE) says it sought to question 44 market participants to understand the causes of the unprecedented increase in electricity prices, which spiked in 2022.
The CRE says that 43 participants responded to requests for information, but J.P. Morgan SE (JPMSE) refused to share some information, particularly those related to the identity of the company’s counterparties and customers that engaged in transactions related to the subject of the survey.
Trending: James Comer hears testimony on how Biden aides carried out ‘impersonation of the president’
JPMSE reasoned that the French regulator does not have the power to make binding requests to market players based
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!