Energy Shares Fall on Fears of Lawsuits --------------------
Utilities: Officials vow to press claims against any firm suspected of manipulating market.
By NANCY RIVERA BROOKS, RICARDO ALONSO-ZALDIVAR and TIM REITERMAN TIMES STAFF WRITERS
September 25 2002
Stocks of most energy merchants tumbled Tuesday amid growing fears of lawsuits and investigations following a ruling that El Paso Corp. illegally manipulated the California energy market.
The complete article can be viewed at: http://www.latimes.com/la-fi-ferc25sep25,0,5475685.story
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PUC May Have Broken Law in Edison Rescue; Energy: If state Supreme Court agrees with federal court that the agency violated three laws, then the utility's bailout deal would be void. The Los Angeles Times; Los Angeles, Calif.; Sep 24, 2002; NANCY RIVERA BROOKS;
Words in Document: 901 Available Formats:
Buy Full Text Abstract: * By raising rates and giving Edison until 2005 to continue to collect its old electricity costs, the PUC may have violated the state's deregulation law, AB 1890. That law froze rates and allowed utilities until March 31, 2002, to collect old electricity-related debts. Edison and the PUC contend that these costs are not covered by that law. * By allowing Edison ...
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Probe Debunks Need for Blackouts; Energy: A year in the making, PUC report says five plant owners had the capacity to produce enough power. Industry calls the findings wrong. The Los Angeles Times; Los Angeles, Calif.; Sep 18, 2002; NANCY VOGEL;
Words in Document: 942 Available Formats:
Buy Full Text Abstract: Cal-ISO didn't get full authority from the federal government to force power plant owners to deliver needed power until June 2001. Between November 2000 and then, Cal-ISO triggered blackouts statewide on four days and in Northern California alone on three days. For 38 days, electricity reserves hovered at dangerously low levels. The report offers many examples of power plant owners refusing to ...
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There have been more. The governor who completely capitulated to the industry when this came down now is set on getting $9 billion refunded.
Marta
-- Marta Russell Los Angeles, CA http://www.disweb.org -------------- next part -------------- An HTML attachment was scrubbed... URL: <../attachments/20020926/d9fcf507/attachment.htm>