Request Legal Help Now - Free

LAWSUITS NEWS & LEGAL INFORMATION

Energy Crisis

Ephrata, WA: (May-13-08) The Grant County Public Utility District brought charges against Pacific Gas and Electric Co., Southern California Edison Co., a unit of Edison International and San Diego Gas & Electric Co., a unit of Sempra Energy, over unpaid power sales during the 2000-01 energy crisis. Records indicate that during the crisis, electricity prices skyrocketed to $200 to $500 a megawatt from $30 to $50 a megawatt, as a result of manipulation that was carried out by the now bankrupt Enron Corp.

The suit sought to recover as much as $17.5 million from the three California utilities. California groups claimed that power prices should have been reduced to levels set by the Federal Energy Regulatory Commission, a claim that PUD lawyers said that as a public utility, the PUD was exempt from oversight by the panel. As part of a settlement reached, the three utilities agreed to an $11.8 million payout to resolve allegations. [YAHOO FINANCE: WASH. UTILITY TO GET $11.8M IN ENRON-RELATED SETTLEMENT]


Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please click the link below.
Published on May-14-08


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Request Legal Help Now! - Free