Energy-crisis restitution: $76.5M

http://www.utsandiego.com/news/2014/jun/18/energy-crisis-reparations/



This Feb. 11, 2002 file photo shows a revolving Enron Corp. logo spinning in the lobby of the energy company's downtown Houston headquarters. The Texas State Board of Public Accountancy has revoked Arthur Andersen accountants Carl Bass and Thomas Bauer's CPA licenses for violating professional standards in their audits of Enron but the pair has pushed back with a legal challenge.

Energy-crisis restitution: $76.5M
By Morgan Lee
3:12 p.m.June 18, 2014

Customer relief continues to trickle in from California's 2000-2001 energy crisis, when market manipulation crippled the grid and sent utility bills through the roof.

A flurry of legal settlements will result in a $76.5 million credit against costs for San Diego Gas & Electric customers before the end of July, taking some pressure off rising electric rates in San Diego and southern Orange counties.

The discount for consumers won't be identified on bills.

The payments resolve claims against four power energy wholesalers accused of artificially driving up electricity prices: TransAlta, previously known as British Colombia Power Exchange; Powerex, a subsidiary of Canadian utility BC Hydro; Spokane, Wash.-based Avista; and Tulsa, Okl.-based Williams.