FERC Weighs In on Court Decisions

By Published On: September 18, 2004

Federal Energy Regulatory Commission chair Pat Wood told <i>Circuit</i> that the Ninth Circuit Court of Appeals? decision to allow federal regulators to consider refunds prior to October 2000 in alleged market manipulation cases was a ?broadly worded case,? one where FERC is ?looking at the case and talking to parties.? Last week, the court ruled that FERC must consider refunding California up to $2.8 billion, reflecting potentially unjust and unreasonable wholesale cost charges prior to October 2000 (<i>Circuit</i>, September 15, 2004). Deputy state attorney general Ken Alex said last week?s ruling ?radically changed the relationship of FERC?s review and refund process in terms of the California energy crisis and in the days ahead.? However, he worried that the state won?t see a penny from FERC for another decade. In related market cases, Wood expects ?cents on the dollar? from any Enron settlement, but despite not having ?much bang for the buck in transcribing tapes,? FERC ?owes it to customers to get the truth out.?

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