Violation Tracker Individual Record

Company: 
KeySpan Corporation
Current Parent Company: 
National Grid
Penalty: 
$12,000,000
Year: 
2010
Date: 
February 22, 2010
Primary Offense: 
price-fixing or anti-competitive practices
Violation Description: 

The Department of Justice announced a settlement with KeySpan Corporation that requires KeySpan to pay $12 million for violating the antitrust laws by entering into an agreement restraining competition in the New York City electricity capacity market. The department said the financial derivative agreement likely resulted in a price increase for retail electricity suppliers and, in turn, an increase in electricity prices for consumers.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Antitrust Division
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Britain
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
utilities and power generation
Specific Industry of Parent: 
utilities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.