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Violation Tracker Individual Record

Company: Vitol Inc.
Current Parent Company: Vitol
Penalty: $2,225,000
Year: 2024
Date: January 4, 2024
Offense Group: competition-related offenses
Primary Offense: energy market violation
Violation Description: FERC fined Vitol for violating section 1c.2 of the Commission's regulations and section 222a of the Federal Power Act (FPA) by selling physical power at a loss in the California Independent System Operator's wholesale electric market in order to eliminate congestion that they expected to cause losses on Vitol‚¬„¢s congestion revenue rights. The order assessed disgorgement and civil penalties as outlined for the violations.
Level of Government: federal
Action Type: agency action
Agency: Federal Energy Regulatory Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: energy and commodity trading
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.