Gov Weighs in with FERC

The possibility of returning more money from alleged price manipulation during the energy crisis caused Governor Arnold Schwarzenegger to write to Federal Energy Regulatory Commission chair Pat Wood about a settlement conference this week. Schwarzenegger recently met with Wood about energy issues. ?The settlement discussions on June 30 and July 1 set forth a road map for reasonable and fair resolution of those claims. If settlement is not successful, I will, of course, continue to support the California Parties? efforts to seek refunds for all periods and fairness for all Californians,? wrote the governor June 29. Some take the letter to mean that the governor could agree to less than what the state has demanded?$8.9 billion in total. For instance, State Senator Debra Bowen (D-Redondo Beach) stated, ?I?m not really interested in seeing the governor and the Bush administration cut a deal with the generators for 25 or 30 cents on the dollar. If that?s the goal, California?s ratepayers would be better off skipping the talks and going to court tomorrow to demand the generators return every penny of the money they stole from ratepayers.? The settlement talks are secret, but Gary Ackerman, director of the Western Power Trading Forum, believes they covered smaller suppliers. The governor?s office did not return a request for comment.

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Gov Weighs in with FERC

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