Public Citizen Challenges An Exemption Request By The Private Equity Firm IIF, Which Is Controlled By J.P. Morgan Chase & Co

By Tyson Slocum

A private equity firm that is controlled by J.P. Morgan Chase & Co. now owns 4 energy-related holding companies in the U.S.:

  • El Paso Electric Company is a franchised, vertically integrated utility with over 2,200 MW of generation capacity
  • Southwest Generation with nearly 2,300 MW of generation
  • Novatus Energy has nearly 1,000 MW of generation capacity
  • Summit Utilities, which operates local natural gas distribution companies in five U.S. states.

Public Citizen is challenging IIF’s petition to the Federal Energy Regulatory Commission to obtain an exemption from regulations and allow these energy companies that all have the same ownership to instead be classified as separate entities. Read our protest here: IIFpdo