El Paso Corp. is nearing a $1.7 billion settlement with California to resolve allegations that it manipulated natural gas prices in the state during the energy crisis in 2000 and 2001, according to published reports Thursday.
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Energy Experts: FERC Can Extract ‘Pound of Flesh’ If El Paso Loses
If FERC should find El Paso Corp. affiliates manipulated natural gas prices in California, some energy industry experts believe the Commission has “very broad authority” to take disciplinary action against the energy corporation and essentially could destroy it, while others believe the agency’s remedial powers are “somewhat limited.”
December 6, 2002
Feinstein Seeks New FERC Probe on Price Gouging
Sen. Dianne Feinstein (D-CA) has called on FERC to initiate a new investigation into allegations that generators manipulated California power prices in the wake of a new General Accounting Office (GAO) report, which found the Commission’s initial probe to be faulty.
July 9, 2001
Feinstein Seeks New FERC Probe on Price Gouging
Sen. Dianne Feinstein (D-CA) has called on FERC to initiate a new investigation into allegations that generators manipulated California power prices in the wake of a General Accounting Office (GAO) report, which found the Commission’s initial probe to be faulty.
July 3, 2001
El Paso: Continued Strength in CA Prices Proves Its Case
El Paso Corp. said last week the market has proved wrong all charges that it manipulated California gas prices over the last year while its marketing/merchant power subsidiary held control over 1.2 Bcf/d of firm capacity on its affiliate pipeline, El Paso Natural Gas. El Paso Merchant relinquished control over most of that capacity on June 1 yet gas prices in California continued to be abnormally high in relation to prices elsewhere in the country, El Paso said.
July 2, 2001
Duke Responds to Charges that it Manipulated Output
Returning fire in the continuing war of words, a Duke Energy official on Friday refuted claims by former employees of its South Bay power facility that the company was manipulating plant output to drive up prices. The company called the charges unfounded, noting that the plant was actually directed by the California Independent System Operator (Cal-ISO), not Duke, to track fluctuations in electricity demand.
June 25, 2001
El Paso, Adversaries Spar over Level of `Unavailable’ Capacity
As the five-week-old hearing into whether El Paso Natural Gas manipulated gas prices in California last year wound down at FERC last Tuesday, a war of words erupted over just how much transportation on the pipeline was unavailable to customers during 2000 for reasons other than operational factors.
June 25, 2001
El Paso, Adversaries Spar over Level of ‘Unavailable’ Capacity
As the five-week-old hearing into whether El Paso Natural Gas manipulated gas prices in California last year winds down at FERC, a war of words has erupted over just how much transportation on the pipeline was unavailable to customers during 2000 for reasons other than operational factors.
June 19, 2001
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