Deutsche Bank unit faces fines in US over energy trading: WSJ

The Federal Energy Regulatory Commission (FERC) earlier proposed that the energy-trading arm of Deutsche pay the fine and disgorgement of US$123,198 in alleged ill-gotten profits last year, saying it manipulated California power prices.

Last week, the FERC requested a further extension in the legal deadline until Jan. 22 amid the ongoing talks.

Deutsche Bank has disputed FERC's allegation that it manipulated the market by deliberately losing money on physical transactions to profit in derivative markets.

The action is part of a larger crackdown by the regulator targeting electricity trading schemes that it says resemble the market manipulations that caused California's energy crisis more than a decade ago, the Journal said.

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