California finds Iberdrola guilty of overcharging state $371 million

The Los Angeles Times reports that Federal Energy Regulatory Commission Judge Steven A. Glazer has found Iberdrola guilty of overcharging California consumers during the state’s energy crisis of 2000-2001, finding that “the public was clearly, palpably, seriously harmed by the energy crisis,” and that Iberdrola “misled state officials over the negotiations of long-term electricity deals,” with Iberdrola charging $371 million more than it should have.

Read excerpts below:

 

An administrative law judge in Washington D.C. slammed two energy companies, saying they overcharged California consumers for long-term contracts during the state’s energy crisis of 2000-2001, with a tab exceeding $1.1 billion, including interest.

“The public was clearly, palpably, seriously harmed by the energy crisis,” said Federal Energy Regulatory Commission Judge Steven A. Glazer in a 219-page ruling released late Wednesday that charged Shell Energy North America and Iberdrola Renewables of gouging the state.

Glazer ruled the companies misled state officials over the negotiations of long-term electricity deals, with Shell charging $779 million more than it should have and Iberdrola charging $371 million more.

 

 

California Public Utilities Commission member Mike Florio praised the ruling.

“After 15 years of fighting in regulatory and court proceedings, we’re finally getting relief,” said Florio, who submitted testimony critical of Shell and Iberdrola in hearings that ran for more than three weeks in November and December.

Read the full article at The Los Angeles Times.

 

April 15th, 2016|