FERC JUDGE RULES THAT CALIFORNIA’S ENERGY CRISIS CONTRACT WITH IBERDROLA WAS PRODUCT OF FRAUD

SAN FRANCISCO, April 13, 2016 – The California Public Utilities Commission (CPUC) today applauded an Initial Decision issued by an Administrative Law Judge (ALJ) at the Federal Energy Regulatory Commission (FERC) on Tuesday, which finds that Shell Energy North America (US) L.P. defrauded California during the negotiations of a long-term power contract signed during the energy crisis in May 2001. The Initial Decision also finds that the Shell contract, along with a contract the state signed with Iberdrola Renewables LLC in June 2001, burdened California consumers with more than $1.1 billion in excessive charges, including interest. The Initial Decision, if affirmed, paves the way for refunds for California consumers from Shell and Iberdrola Renewables for overcharges under long-term contracts executed during the energy crisis of 2000-2001.

Link here to read CPUC press release