SAN FRANCISCO (AP) — Regulators say California electricity consumers could see up to $2 billion in new refunds from energy wholesalers that profited from the state’s 2000-2001 energy crisis if a federal judge’s recommendation holds up under review.
The California Public Utilities Commission says the rulings this week from the U.S. Court of Claims in Washington, D.C. are a victory for a state that saw energy prices spike to unprecedented heights amid rolling blackouts. The state bought billions of dollars’ worth of electricity to keep the lights on.
The judge found that Portland, Ore. -based Bonneville Power Administration and Lakewood, Colo.-based Western Area Power Administration sold energy at inflated prices.
The court will set the exact amount BPA and WAPA owe the state at a June 3 trial.
Copyright 2013 The Associated Press.