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FERC to rule on Calfornia Refund

In a minor battle, the FERC will rule on approximately 9 Billion in requested monies by California as well as a forced renegotiation of Calfiornia's long-term contracts.

Source: TheTip, 2003-03-25

Candidate: Enron

In one of the biggest failures of the Federal Energy Regulation Com. ever, Californians suffered rolling blackouts and price gouging at the hands of a few large energy providers including El Paso Corp, Enron and Reliant and likely including more such as Duke, Reliant, Dynegy and others.

On Wednesday, FERC is expected to settle the matter. It's likely that whatever ruling they produce will be appealed to the federal courts.

California is seeking $9 Billion in cash damages as well as forced renegotiation of long-term power contracts. None of this money will go into the hands of tax-payers from whom it was taken.

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