Ferc’s California clean-up

Sixty energy firms and utilities will have to justify their activities during the California energy crisis, the Federal Energy Regulatory Commission (Ferc) said in its regular bi-weekly meeting on June 25.

Ferc, the US interstate energy regulator, ordered the firms to explain why theyshould not have to repay profits gained from alleged market manipulation duringthe price spikes and power shortages that hit California in 2000–2001.

The ‘show cause’ order requires all companies named to submit allinformation relating to transactions in the California market between January1, 2000 and June 20, 2001. Ferc staff will report their findings to the commissionby the end of 2003, the agency said.

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