Vitol faces possible $6 million fine for U.S. power market manipulation
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LONDON (Reuters) - Global energy trader Vitol faces a possible fine of $6 million (£4.7 million) from a U.S. energy regulator for alleged manipulation in California's power market, an order from the regulator showed. "The Commission directs Vitol to show cause why it should not be required to disgorge unjust profits of $1,227,143, plus interest," the Federal Energy Regulatory Commission (FERC) wrote in an Order to Show Cause. The FERC alleges that Vitol and an employee purposefully sold..