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<a href="http://www.accessmylibrary.com/coms2/summary_0286-6838370_ITM" title="Facts and information about California wants to unload high-priced energy contracts. (News).(Brief Article)">California wants to unload high-priced energy contracts. (News).(Brief Article)</a>
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California wants to unload high-priced energy contracts. (News).(Brief Article)
SACRAMENTO, CA--The California Public Utilities Commission (CPUC) and the California Electricity Oversight Board (CEOB) filed separate but similar complaints on Februrary 25 asking the Federal Energy Regulatory Commission (FERC) to abrogate high-priced power supply contracts--worth an estimated $43 billion--that the state signed last year. The CPUC said its preliminary calculations indicate that the challenged contracts are priced at levels exceeding just and reasonable prices by approximately $21 billion.
Initial reactions were that the filings were more political than legally substantive. If FERC refused to abrogate the contracts, state officials ...
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