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Violation Tracker Individual Record

Company: Vitol Inc.
Current Parent Company: Vitol
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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)
Archived Source: (click here)
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.