JPMorgan’s German Unit Fined €500,000 by France for Refusing to Reveal 2022 Electricity Price Surge Secrets

EddieJayonCrypto

 29 May 25

tl;dr

France’s energy regulator, the French Energy Regulatory Commission (CRE), has fined JPMorgan Chase’s German unit, J.P. Morgan SE, €500,000 for failing to provide sufficient information in a power market survey investigating the 2022 spike in electricity prices. While 43 of 44 market participants res...

France’s energy regulator, the French Energy Regulatory Commission (CRE), has fined JPMorgan Chase’s German unit, J.P. Morgan SE (JPMSE), €500,000 for refusing to provide required information on electricity price surges in 2022.

The CRE conducted a power market survey investigating the unprecedented spike in electricity prices during 2022. Out of 44 market participants, 43 responded adequately, but JPMSE declined to disclose details about its counterparties and customers involved in related transactions. JPMSE argued that the CRE lacked authority over companies based in other EU countries.

Upon investigation, the CRE determined that JPMSE’s refusal violated French law, which allows the regulator to collect necessary data from companies operating within the French electricity market. The CRE’s Disputes and Sanctions Settlement Committee (CoRDiS) imposed the €500,000 fine, marking the first decision concerning breaches of this information-sharing obligation.

At the time of publication, JPMorgan Chase has not publicly commented on the fine.