FERC OKs $14M Calif. Energy Crisis Settlement

Law360 (October 27, 2008, 12:00 AM EDT) -- The U.S. Federal Energy Regulatory Commission has approved a settlement of more than $14 million related to transactions a California city conducted during a period of skyrocketing prices for electricity and natural gas in the western United States.

The regulator said Thursday that it had finalized the deal between the city of Vernon and several utilities and California agencies involved in the 2000-2001 energy crisis.

The city agreed to give up a claim for more than $8 million for energy it says it supplied to the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.