AEP says it's surprised by lawsuit

Oct 1, 2003

American Electric Power says it is surprised a federal agency filed a lawsuit against the company alledging the utility manipulated natural gas prices to make millions of dollars.

In a statement AEP says it is cooperating with the Commodity Futures Trading Comission and hopes to reach a settlement.

Last year, AEP fired five employees who the company says submitted innacurate gas trading information to trade publications. AEP says it has no indication that any current employees were involved in the activities.