PacifiCorp Reaches Energy Crisis Settlement

PacifiCorp agreed to a $29 million settlement for a 2000-01 energy crisis refund lawsuit brought by California agencies and utilities. The settlement, announced April 11, involves spot energy sales that PacifiCorp made into the grid operator and now-defunct California Power Exchange markets between January 1, 2000, and June 21, 2001. "This settlement is in the best interest of the parties and our customers," said Jan Mitchell, PacifiCorp spokesperson. "It settles the last remnants of the energy crisis suits and allows us to move forward." Mitchell added that federal regulators and the Ninth Circuit Court of Appeals pushed for a multiparty settlement. PacifiCorp, formerly owned by Scottish Power, was bought by MidAmerican Holdings over a year ago. "The news this week is that we are still working through the energy crisis claims and producing results," said Erik Saltmarsh, Electricity Oversight Board executive director. "But there is now a finite piece of pie left, and a potential end to the claims by the end of this year." California's three investor-owned utilities, the Department of Water Resources, the California Public Utilities Commission, the Electricity Oversight Board, and the state attorney general filed suit alleging unreasonable power sales. The original sales at issue were valued at $85 million, with $50 million alleged to be unreasonable, according to Saltmarsh. If the settlement is approved by the Federal Energy Regulatory Commission, as expected, the three utilities will receive the bulk of the funds. Pacific Gas & Electric will get $13 million and Southern California Edison $7 million. San Diego Gas & Electric said the amount it reaps will be determined by the CPUC. "The settlement will benefit Edison customers through adjustment in rates as provided for in a CPUC order," stated the utility April 11.

Over 11K Stories!

| Independently Powered Energy News

PacifiCorp Reaches Energy Crisis Settlement

vdharadmin

Related Posts

Op-Ed: Before and After Net Energy Metering 3, A Thought Experiment

Auld Lang Zine

CPUC Chops Solar Rooftop Payments & Adds Battery Incentives, Few are Happy

Fed Bill Heads for 10% Biofuels