BUSINESS
May 20, 2008 | From Bloomberg News
Federal regulators said Monday that Edison Mission Group's power-generating unit had agreed to pay $9 million to settle allegations that its employees misled federal regulators investigating bidding practices in mid-Atlantic power markets. The Federal Energy Regulatory Commission said the Irvine company, a subsidiary of Edison International in Rosemead, "made a series of representations and produced data and documents" that misled enforcement staff before and during their investigation.
BUSINESS
February 22, 2008 | From Bloomberg News
The Federal Energy Regulatory Commission proposed new rules to improve competition in wholesale power markets amid criticism of rising electricity costs. Average U.S. retail power prices climbed 9.3% to 8.9 cents per kilowatt-hour in 2006, the largest increase since 1981, according to the Energy Information Administration, the statistical arm of the Energy Department.
BUSINESS
November 16, 2007 | From Times Wire Services
Edison International's Southern California Edison won federal approval to earn higher returns for $2.5 billion in power-line projects it's building. The Federal Energy Regulatory Commission approved a 1.5% raise for the Devers-Palo Verde II and Tehachapi projects, and 1% for the Rancho Vista project.
BUSINESS
August 25, 2007 | From Bloomberg News
The Federal Energy Regulatory Commission must reconsider its denial of refunds to wholesale customers of Powerex Corp. and other electric companies in the Pacific Northwest during the 2000-01 California energy crisis, a federal appeals court ruled Friday. FERC must review rejected claims by cities including Seattle and Tacoma, Wash., the U.S. 9th Circuit Court of Appeals in San Francisco ruled.
BUSINESS
July 27, 2007 | From Reuters
U.S. regulators on Thursday charged defunct hedge fund Amaranth Advisors and pipeline operator Energy Transfer Partners with manipulating natural gas markets and proposed $458 million in penalties. The Federal Energy Regulatory Commission, in its first enforcement action using new authority provided by Congress, is seeking $291 million from Amaranth and former head trader Brian Hunter and his colleague Matthew Donohoe.
BUSINESS
July 21, 2007 | From Times Wire Services
Oil giant Chevron Corp. is seeking permission from federal regulators to build a wave energy project off Mendocino County. The Federal Energy Regulatory Commission announced plans this week to speed the licensing process for new wave and tidal energy projects, citing the benefits of the emissions-free sources of power. There are about 57 applications pending before the agency. Chevron said its facility would be capable of generating enough power for 48,000 U.S. homes. The San Ramon, Calif.