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Firms overcharged Californians $1.1 billion during energy crisis, judge says

Posted By Administration, Monday, April 18, 2016

An administrative law judge in Washington D.C. slammed two energy companies, saying they overcharged California consumers for long-term contracts during the state's energy crisis of 2000-2001, with a tab exceeding $1.1 billion, including interest.

"The public was clearly, palpably, seriously harmed by the energy crisis," said Federal Energy Regulatory Commission Judge Steven A. Glazer in a 219-page ruling released late Wednesday that charged Shell Energy North America and Iberdrola Renewables of gouging the state.

Glazer ruled the companies misled state officials over the negotiations of long-term electricity deals, with Shell charging $779 million more than it should have and Iberdrola charging $371 million more.

Read the whole story at LA Times

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