Barclays, along with four former traders, is facing a significant fine from the Federal Energy Regulatory Commission. They are accused of manipulating electricity prices in Western states between 2006 and 2008. FERC has ordered the bank to pay a $435 million fine and surrender $34.9 million in profit and interest. Scott Connelly, former managing director of Barclays' power-trading team, faces a $15 million penalty, while the other traders have been fined $1 million each. Barclays plans to defend itself against the charge in court, a spokesman says.
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