california / ferc update 7 / 25 / 01 ferc meeting highlights
responding largely to the recommendation of al jude curtis wagner , ferc ordered the following regarding the california refund matter . the order is not expected to be issued in draft form but will be published in final form within the next couple of days .
refunds
when : additional evidentiary hearings in 45 days to determine refunds : 15 days for parties to submit data , followed by 30 days of hearings .
pricing : refunds ordered for " spot market " transactions in california from october 2 , 2000 , through june 20 , 2001 . the reference price for refunds will be determined by the methodology ferc set out in its 6 / 19 order , with one change - - the cost of generation will be based in part on the daily spot price for natural gas , not the monthly spot price as called for in the 6 / 19 order .
additionally , ferc is ordering both jurisdictional utilities and non - jurisdictional entities ( i . e . public power groups such as the los angeles dept . of water and power ) to make refunds .
parallel hearing ordered to determine whether refunds are due for power sales in the pacific northwest . commission members said they would be flexible in defining spot power sales in the pacific northwest .
california / ferc update 7 / 25 / 01
ferc meeting highlights
responding largely to the recommendation of al jude curtis wagner , ferc ordered the following regarding the california refund matter . the order is not expected to be issued in draft form but will be published in final form within the next couple of days .
refunds
when : additional evidentiary hearings in 45 days to determine refunds : 15 days for parties to submit data , followed by 30 days of hearings .
pricing : refunds ordered for " spot market " transactions in california from october 2 , 2000 , through june 20 , 2001 . the reference price for refunds will be determined by the methodology ferc set out in its 6 / 19 order , with one change - - the cost of generation will be based in part on the daily spot price for natural gas , not the monthly spot price as called for in the 6 / 19 order .
additionally , ferc is ordering both jurisdictional utilities and non - jurisdictional entities ( i . e . public power groups such as the los angeles dept . of water and power ) to make refunds .
parallel hearing ordered to determine whether refunds are due for power sales in the pacific northwest . commission members said they would be flexible in defining spot power sales in the pacific northwest .