GREEN PLAINS INC
GPRE
Materials
2
exclusion reasons
2 themes
GREEN PLAINS INC is screened out under 2 exclusion reasons spanning 2 issue categories.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Green Plains Inc. was fined $927,990 by the Federal Energy Regulatory Commission in June 2025 for manipulating natural gas market indices during bidweek trading. The settlement specifically prohibits the company from engaging in MichCon bidweek trading in fixed price or physical basis for two years. While Green Plains is primarily an ethanol producer, this enforcement action demonstrates its active participation in and manipulation of wholesale fossil fuel commodity markets. The company's trading activity constitutes a fossil fuel ancillary service, providing liquidity and price discovery mechanisms critical to the operation of the natural gas system.
The Federal Energy Regulatory Commission fined Green Plains $947,000 for cross-market manipulation in natural gas trading. FERC found that the company engaged in uneconomic physical bidweek trading designed to move the IFERC MichCon index price and benefit its short financial positions tied to that index.
FERC characterized the trading pattern as a "fraudulent device" executed with "requisite scienter" — meaning Green Plains knowingly employed the scheme to manipulate market prices. The company's physical trades were unprofitable on their own terms and served no legitimate hedging or commercial purpose apart from influencing the settlement index.
Research Sources
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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