Market Issues
Inside the Beltway: FERC Goes After Market Violators
The Federal Energy Regulatory Commission recovered 14 times as much in penalties for energy market wrongdoings in 2021 than the year before, Commission Chair Rick Glick reported Nov. 18. There were eight settlements totaling $6.4 million in forfeiture and fines for misdeeds ranging from market manipulation to violations of reliability standards. Additionally, the agency […]
CA Utilities Join Forces to Thwart Growing Utility Bill Scams
Customers increased reliance on home utility services has caused a rise in scammers preying on them and in increasingly nefarious ways, according to California’s investor-owned utilities and public utilities.
Pacific Gas & Electric and Southern California Edison customers were cheated out of more than $1 million recently. San Diego Gas & Electric customers lost half […]
West Coast Sets Up Clean Construction Task Force
Over the weekend at the COP26 climate conference in Glasgow, Scotland, the states of California, Oregon, Washington, the province of British Columbia and six of the region’s largest cities announced a new task force to boost the market for new construction materials that don’t destroy the atmosphere.
Building materials like concrete and steel are responsible […]
Sempra Energy’s Earnings Plummet
Like California’s other two investor-owned utilities and parent companies, Sempra Energy’s latest earnings also were in the red, not from wildfire liability but from the huge methane leak at subsidiary SoCalGas’ Aliso Canyon storage field. A $1.13 billion settlement that includes most of the plaintiffs resulted in a loss for Sempra of $651 […]
Shorts
California’s community choice organizations signed agreements for 3,000 MW of clean energy supplies over the last year. “These projects reflect a diversity of resources that will boost energy resilience and help California attain a 100% clean electricity system, while also supporting green jobs and fueling economic development,” CalCCA Executive Director Beth Vaughan said Nov. […]
PG&E and SCE Earnings Plummet
California’s two largest investor-owned utilities latest losses from growing wildfire liability total more than $1.3 billion.
Pacific Gas & Electric lost $1 billion last quarter. That compares with positive earnings of $167 million for the third quarter of 2020.
The utility dominates its parent company’s ledger. Pacific Gas & Electric Corp. also lost more than $1 […]