FERC finds widespread power manipulation in California
We've been distracted but we haven't forgotten.
Seven Enron Corp. subsidiaries and five other energy companies manipulated natural gas and electricity prices and supplies in California, federal energy regulators ruled Wednesday.
posted by Cyndy
As a result of the manipulation, Federal Energy Regulatory Commission Chairman Pat Wood said California would receive more than the $1.8 billion in refunds recommended by a FERC judge in December.
The exact amount is to be determined in the coming months, but FERC spokesman Kevin Cadden estimated that the total would be $3.3 billion. California is seeking $9 billion.