Crisis Settlements to Date

February 21, 2006—$50 million from Williams as part of a deferred-prosecution agreement with the U.S. Department of Justice, $15.6 million of which is to settle claims in California state court in San Diego. February 20, 2006—Up to $14 million from IdaCorp in the form of a refund to the California Parties for transactions made from May 1, 2000, through June 20, 2001. This will come out of its estimated receivables of $36 million. September 15, 2005—Agreement reached by Public Service Colorado with San Diego Gas & Electric, Pacific Gas and Electric, Southern California Edison, the California Department of Water Resources, the California Public Utilities Commission, and the California attorney general. Pending approval of the settlement by the Federal Energy Regulatory Commission, Public Service will pay $5.5 million in cash and assign $1.8 million in accounts receivable from the California Independent System Operator and the California Power Exchange to the settling participants. August 15, 2005—$445 million for Reliant, including $150 million in cash and waiving claims to its receivables for energy delivered between January 2000 and June 2001. March 3, 2005—A $4 million settlement agreement with Coral Energy Resources resolving an investigation into responses the company provided the commission in a prior investigation. January 13, 2005—$750 million with Mirant, which includes liberating the company (which declared bankruptcy in July 2003) from any FERC penalties. The deal also distributes funds to the state’s utilities, DWR, and the Attorney General’s Office. December 7, 2004—FERC finalizes Duke’s $207 million settlement noted below. December 6, 2004—$12.5 million civil penalty on Mirant Energy Marketing from the Commodity Futures Trading Commission. The fine is for misreporting trades to industry journals. October 25, 2004—$267 million FERC settlement with Dynegy and partner NRG Energy in West Coast Power. This is the first settlement that includes the pre–October 2000 time frame. The amount includes the earlier settlement. July 22, 2004—Forfeiture of $32.5 million in unjust profits ordered for Enron. The commission said Enron violated its market-based rate authority. July 13, 2004—$207.5 million from Duke Energy. Of that, $16.6 million earmarked for the Department of Water Resources for its out-of-market purchases to cover Duke. Assigns $122 million owed Duke by the California Independent System Operator and California Power Exchange and $85 million in cash. July 2, 2004—Forgiving of $137 million that Williams Energy claims it was owed by California utilities. Utilities to transfer more than $100 million sitting in escrow at the former California Power Exchange to Williams. January 20, 2004—$3 million from a Dynegy/NRG Energy joint venture for alleged 2000-01 manipulation. The venture, West Coast Power, is set to pay into a U.S. Treasury fund for California and other Western consumers. November 14, 2003—$7.9 million for Coral Power proposed by commission staff. November 13, 2003—$1.6 billion settlement for El Paso allegedly withholding gas supplies, causing prices for gas used to make electricity to rise during the energy crisis. October 31, 2003—$7.2 million for Sempra Energy Trading, largely for settling allegations of “Get Shorty” transactions—selling ancillary services where none may have existed. October 2003—$50 million for Reliant Resources to settle most gaming allegations. September 2003—$332,000 for Mirant for potential profits from cutting nonfirm power, circular scheduling, load-shifting, and paper trading. August 2003—About $2 million in total settlements with American Electric Power, Aquila, Morgan Stanley Capital Group, PacifiCorp, Portland General, Puget Sound Energy, Reliant, Redding, San Diego Gas & Electric, and Williams Energy. July 2003—$15.5 million for El Paso Electric along with FERC suspending its market-based rate authority for more than two years. January 2003—$13.8 million settlement between FERC and Reliant Energy for withholding energy from the grid. December 2002—$417 million settlement with Williams by the California attorney general for investigations and lawsuits. Reduced price of long-term contract with DWR by $180 million. Gave San Diego and San Francisco six turbines. July 2002—$122 million in penalties levied by the California Independent System Operator for not following dispatch orders. Dynegy, Reliant, and Williams got the harshest judgments. April 2002—$6 million AG settlement with Calpine on enforcement issues. April 2002—$2.5 million AG settlement with Constellation on enforcement issues. March 2001—$124 million in refunds granted by FERC through CAISO for bids over the price cap. April 2001—$8 million settlement between FERC and AES/Williams on withholding. July 1999—$57 million in payments made to suppliers beginning in 1999 rescinded by CAISO.

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Crisis Settlements to Date

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