Date:
Jun 27, 2022Proceeding Type:
FERC Enforcement Action: Salem Harbor Power DevelopmentDocket:
IN18-8Brief Description:
FERC approves Stipulation and Consent Agreement with Salem Harbor Power Development LP, requiring Salem Harbor, subject to limitations of the Bankruptcy Code and in accordance with the treatment afforded to Allowed General Unsecured Claims pursuant to a plan to be approved by the Bankruptcy Court in Salem Harbor’s bankruptcy proceeding, to pay a $17.1 million civil penalty and to disgorge a little more than $26.69 million in profits, to resolve the OE’s investigation into Salem Harbor’s receipt of capacity payments for Salem Harbor’s New Salem Harbor Generating Station project (Project) during the 2017-18 Capacity Commitment Period, a period during which the Project had neither been built nor commenced commercial operation.