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Macquarie Bank was hit with a record fine for failing to pick up alleged suspicious trades in electricity futures by the owner of the Vales Point coal-fired power station in NSW.

Delta Power & Energy, the holding company which owns the Vales Point station, is being sued by the Australian Securities and Investments Commission for allegedly manipulating prices on the ASX 24 market, where futures are traded, on 30 occasions between September 8 and October 6, 2022.