FERC Closes Another Energy Crisis Claim

By Published On: July 13, 2007

Federal regulators signed off on an uncontested $18 million settlement between BP Energy and California agencies and private utilities July 6. The deal settles charges that BP bilateral power sales to the Department of Water Resources between January 1, 2000, and June 20, 2001, were “unjust and unreasonable.” The five-page settlement also includes an agreement by BP to cooperate with the California parties in pursuing claims arising from natural gas trade during the 2000-01 energy crisis. The settling parties also include the California Attorney General, California Public Utilities Commission, Pacific Gas & Electric, San Diego Gas & Electric, and Southern California Edison. The joint settlement was filed April 19, 2007.

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