Fragmented

CPUC Shows Split Personality on Gas-Buying Incentive Issue

California’s often-fragmented five-member regulatory commission Thursday approved an extension of Southern California Gas Co.’s six-year-old gas-purchase incentive program, including slashing by more than two-thirds the amount of incentives due to shareholders through the programs recent successes in lower overall supply costs. However, it made the unanimous (5-0) vote only after a split 3-2 vote defeated a preferred option by the panel’s chief regulator.

June 10, 2002