Powhatan Energy Fund Managers Gain Senator’s Voice In FERC Enforcement Scrutiny

West Chester investment managers Richard and Kevin Gates of Powhatan Energy Fund have gained the voice of a U.S. senator in their scrutiny of Federal Energy Regulatory Commission enforcement practices — but only after he and other top elected officials promoted FERC’s chief investigator to the agency’s highest position.

The after-the-fact due diligence comes from Pennsylvania Democrat Robert Casey, whose “veiled questions fit complaints against FERC by two of Casey’s constitutents, Richard and Kevin Gates, … who have alleged, in a public campaign laying out their complaints (and hiring ex-FERC experts) at their website ferclitigation.com (see Casey’s letter there too), that FERC under (now-chairman Norman) Bay has been relentlessly investigating them for energy trades designed to reap millions in market trading compensation payments at a time when such trades weren’t illegal,” Philly.com reported.

Read more about Casey’s request for a review of Bay’s agency on Philly.com here.

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Top photo courtesy of Philly.com