Calif. AG Sues Utilities Over $5B In Crisis Transactions

Law360, New York (June 11, 2009, 12:00 AM EDT) -- California's attorney general has filed suit against more than a dozen utilities and other energy sellers, claiming they abused their market power and therefore owe billions of dollars in refunds to ratepayers in connection with more than $5 billion in energy transactions completed during the state's 2001 energy crisis.

Notice of the lawsuit, filed May 22 by Attorney General Jerry Brown before the Federal Energy Regulatory Commission, was given Wednesday in the Federal Register. According to the docket, several respondents in the case have in recent...
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