April 21, 2017 / 10:23 PM / 9 months ago

9th Circuit rules on California energy-market manipulation refunds

A U.S. appeals court on Friday handed the Federal Energy Regulatory Commission a mixed win in dozens of challenges to two separate rulings on the calculation of refunds arising out of energy-market manipulation in California in 2000 and 2001.

The three-judge panel of the 9th U.S. Circuit Court of Appeals rejected claims that FERC had given a windfall to government-owned utilities at the expense of individual consumers, represented by the California Public Utilities Commission, and investor-owned utilities, like Southern California Edison and Pacific Gas & Electric.

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