Newspaper article THE JOURNAL RECORD

Williams Expects Its Prices to Remain Unregulated

Newspaper article THE JOURNAL RECORD

Williams Expects Its Prices to Remain Unregulated

Article excerpt

TULSA (JR) -- Officials at Williams Cos. said they expect to be able to continue to sell electricity to California utilities at market-based prices, despite two utilities that want the federal government to regulate its prices.

Pacific Gas & Electric and Southern California Edison have asked the Federal Energy Regulatory Commission to set the prices Williams charges utilities, claiming the company's rates are unreasonable.

Last month, FERC asked Williams Energy Marketing and Trading Co., a unit of Tulsa-based Williams, to justify more than $40 million it charged California's Independent System Operator for power.

Federal regulators said Williams was one of several power providers responsible for $124 million in overcharges from transactions in January and February.

FERC officials also accused Williams and AES Southland, which produces electricity Williams sells to California, of deliberately shutting down two power generation units in order to sell power from other units at higher prices. …

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