Barclays to contest record US energy fine in court

Barclays said it will contest a record £300 million fine imposed by the US energy regulator in court.

The Federal Energy Regulatory Commission has accused the banking giant of fixing electricity prices in California and other states for more than two years.

Four of Barclays former traders also received fines for allegedly fixing power prices between November 2006 and December 2008.

ITV News business editor Laura Kuenssberg reports:

Advertisement

Barclays £300m fixing fine

The US Federal Energy Regulatory Commission (FERC) has said Barclays and four of its power traders must pay fines totalling $453m (£300m).