Portland General Electric

Rosemead, CA: (Mar-12-07) Southern California Edison (SCE), Pacific Gas and Electric, San Diego Gas & Electric, the California Public Utilities Commission (CPUC), the California Electricity Oversight Board, the California Department of Water Resources Electric Power Fund, and the California Attorney General filed charges against Portland General Electric (PGE) of Portland, OR. The lawsuit was seeking refunds of energy overcharges during the state's 2000-2001 energy crisis. In a settlement reached, the total value of PGE's refunds will be more than $65 million when $59 million in new refunds and associated interest are added to an earlier $6.1 million payment. SCE's share is expected to be approximately $15 million. The settlement will benefit SCE customers through adjustments in rates as provided for in a CPUC order. [BUSINESS WIRE: ENERGY OVERCHARGE]

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Published on Mar-12-07