Asks

Pacific Gas and Electric Co. on Thursday asked California state regulators to extend its so-called “Gas Accord” for one year under 2002 terms, endorsing a settlement the utility reached with major players in the Northern California energy market. The utility told regulators that its “Gas Accord II” has “wide support from all sectors of the natural gas and electric power industries,” including residential ratepayer representatives. It had previously proposed a two-year extension, with deference to the federal bankruptcy court in which it is undergoing Chapter 11 reorganization proceedings.

Pacific Gas and Electric Co. on Thursday asked California state regulators to extend its so-called “Gas Accord” for one year under 2002 terms, endorsing a settlement the utility reached with major players in the Northern California energy market. The utility told regulators that its “Gas Accord II” has “wide support from all sectors of the natural gas and electric power industries,” including residential ratepayer representatives. It had previously proposed a two-year extension, with deference to the federal bankruptcy court in which it is undergoing Chapter 11 reorganization proceedings.

Turning his attention to energy suppliers in the Pacific Northwest, California’s attorney general Thursday asked the Federal Energy Regulatory Commission to order more than $1 billion in refunds to California for past wholesale power purchases from five suppliers from the northwest region, including two public sector providers. The petition cites documents subpoenaed from Enron’s Portland trading unit that accuse other suppliers in the region of using market manipulation tactics similar to those it used.

California’s Attorney General last Wednesday attempted to open another chapter in the state’s wide-ranging attempts to secure billions of dollars of refunds for the wholesale power it and the state’s major utilities purchased in 2000-2001, filing a new request with the Federal Energy Regulatory Commission for refunding alleged overcharges paid by San Diego consumers. An ongoing FERC refund investigation covering the entire western power markets does not cover the summer period in question because of what the federal agency claims are legal restrictions preventing it from doing so.

Sen. Barbara Boxer (D-CA) has called on federal regulators to take legal action against Enron corporate officers for allegedly engaging in insider trading of company stock, and to freeze all proceeds arising from illegal stock sales pending the outcome of the litigation.

Sen. Barbara Boxer (D-CA) has called on federal regulators to take legal action against Enron corporate officers for allegedly engaging in insider trading of company stock, and to freeze all proceeds arising from illegal stock sales pending the outcome of the litigation.

After being scolded by lawmakers for more than a hour for not testifying Tuesday before a Senate panel, former Enron Chairman Kenneth L. Lay urged the senators to “not draw a negative inference” from his decision to assert his constitutional right under the Fifth Amendment to avoid self-incrimination.

BC Gas Utility Ltd. has applied to the BC Utilities Commission for a 10% reduction in the commodity charge for natural gas to take effect Jan. 1, 2002. Vancouver-based BC Gas last reduced its commodity charge on Oct. 1 when the BCUC approved a reduction that saw customers’ bills decrease by approximately 11%.

In a sign creditors are not all on board, Pacific Gas and Electric Company Tuesday filed a request with the U.S. Bankruptcy Court in San Francisco to get an extra four months until Dec. 6, 2001, to file a reorganization plan in its Chapter 11 case. Under the current timeframe, the deadline to file such a plan is Aug. 6, 120 days after the company’s April 6 Chapter 11 filing.