It was said to be the first time that the Federal Energy Regulatory Commission's so-called "death penalty" on power sellers was imposed. By The Associated Press. [New York Times: NYT HomePage]

David Remer of PoliWatch.Org comments:

Note the following excerpt:

California and several Western utilities have since argued that the long-term prices were closely tied to the short-term, or spot, prices that the commission has said were manipulated by Enron and other companies.

The state has renegotiated long-term contracts initially worth about $30 billion.

Wood and Commissioner Nora Brownell -- the commission's two Republicans -- voted to uphold the remaining $12 billion in contracts, saying that California was a willing partner and employed savvy negotiators.

Do the Republican commissoner's really expect people to see justice in this? There was no way California could have known at the time that the prices negotiated for long term contracts were illegally and deceptively pushed higher by conspiracy on the part of Enron and some 40 other company's involved in price fixing through illegal and secret means. Looks like these Republicans are looking for more oil company campaign contributions for 2004, I certainly would not give them a cent.

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This page contains a single entry by David R. Remer published on June 25, 2003 7:30 PM.

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