Dive Summary:
- On Feb. 15, an administrative law judge at the U.S. Federal Energy Regulatory Commission (FERC) ruled two U.S. Energy department units, the Western Area Power Administration and the Bonneville Power Administration, and energy generating companies including Powerex, Shell Energy North America US LP and TransAlta Corp. violated market rules in 2000, when electricity prices in California were at their highest.
- California's Public Utilities Commission, PG&E Corp. and Edison International brought the case to FERC after many years of legal disputes stemming from Enron Corp.'s energy trading and the rate hikes and blackouts that followed.
- If FERC accepts the judge's ruling, California ratepayers may see almost $1 billion in refunds and $600 million more in interest.
From the article:
"California energy regulators said that a preliminary ruling by a U.S. agency may bring as much as $1.6 billion in refunds for consumers harmed during the state’s electricity crisis more than a decade ago.
An administrative law judge at the U.S. Federal Energy Regulatory Commission on Feb. 15 determined that companies including Powerex Corp. and a unit of Royal Dutch Shell Plc violated market rules in 2000, when California’s electricity prices reached their peak. ..."