Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: KeySpan Corporation
Current Parent Company: National Grid
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $12,000,000
Year: 2010
Date: February 22, 2010
Offense Group: competition-related offenses
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 Current Parent: United Kingdom
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: utilities and power generation
Specific Industry of Current Parent: utilities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.