Energy Transfer Has Agreed To Settle Fed Dispute

DALLAS (AP) — Energy Transfer Partners LP said it agreed to a settlement with the staff of the Federal Energy Regulatory Commission over agency claims against the natural gas and propane gas distributor's trading activities.

In July, the FERC alleged that the company engaged in improper trading activities by manipulating or artificially suppressing prices on a number of occassions, according to an SEC filing by the company on Wednesday.

FERC is seeking $69.9 million in disgorgement of profits, plus interest, and $82 million in civil penalties relating to these market manipulation claims, the filing said.

On Wednesday after the market closed, the company said it has agreed to a settlement with agency staff and that the agreement is subject to the approval of the FERC. Until it is approved, the company said terms of the agreement will remain confidential.

Calls to Energy Transfer Partners seeking further information on the claims were not immediately returned.

Shares of Energy Transfer Partners fell 98 cemnts, or 2.4 percent, to $40.72 in Thursday morning trading.