Feinstein on Ferc

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Feinstein on Ferc

Source: TheTip, 2003-03-05

Candidate: Diane

Senator Feinstein's been asking some simple questions - if Duke, Reliant, El Paso and others are guilty of price fixing, who else is? The public wants to know.
��Federal Energy Regulatory Chairman Pat Wood has informed me of plans by FERC to lift the �Protective Order� that currently prevents the public from learning the details about evidence of fraud and manipulation of the Western energy market during 2000 and 2001.

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��I appreciate and am grateful for the Chairman�s action and his continued attention to the energy crisis that cost residents and businesses ofCaliforniaand the West so much.

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��I look forward to examining the documents.�I believe they will provide irrefutable evidence that the energy market was subject to wholesale manipulation. If FERC is to maintain its credibility as a regulator, it must analyze all the evidence, order billions of dollars of refunds to the parties harmed by the market manipulation, impose penalties against those implicated, and reevaluate the State�s long-term contracts.�

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