Skip to content
CapRadio

CapRadio

signal status listen live donate
listen live donate signal status
listen live donate signal status
  • News
    • topics
    • State Government
    • Environment
    • Health Care
    • Race and Equity
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
  • Music
    • genres
    • Classical
    • Jazz
    • Eclectic
    • Daily Playlist
  • Programs + Podcasts
    • news
    • Morning Edition
    • All Things Considered
    • Marketplace
    • Insight With Vicki Gonzalez
    • music
    • Acid Jazz
    • At the Opera
    • Classical Music
    • Connections
    • Excellence in Jazz
    • Hey, Listen!
    • K-ZAP on CapRadio
    • Mick Martin's Blues Party
    • Programs A-Z
    • Podcast Directory
  • Schedules
    • News
    • Music
    • ClassicalStream
    • JazzStream
    • Weekly Schedule
    • Daily Playlist
  • Community
    • Events Calendar
    • CapRadio Garden
    • CapRadio Reads
    • Ticket Giveaways
  • Support
    • Evergreen Gift
    • One-Time Gift
    • Corporate Support
    • Vehicle Donation
    • Stock Gift
    • Legacy Gift
    • Endowment Gift
    • Benefits
    • Member FAQ
    • e‑Newsletter
    • Drawing Winners
    • Thank You Gifts
  • About Us
  • Contact Us
  • Close Menu
 We Get Support From:
Become a Supporter 
 We Get Support From:
Become a Supporter 

Canadian Utility to Pay $750 Million to Settle California Energy Crisis Claims

Friday, August 16, 2013 | Sacramento, CA
Photo Credit: Andrew Nixon
 

Photo Credit: Andrew Nixon

By Harry Gibbons

The Canadian-owned firm Powerex has agreed to the settlement with the state of California and power companies.

Frank Lindh is with the California Public Utilities Commission. He says Powerex was accused of engaging in energy market manipulation similar to that of Enron.

"The initial charges really boil down to overcharging for electricity. Charging way high prices for electricity that Powerex was able to obtain very cheaply from British Columbia. So they buy low and sell high, and we want the difference," said Lindh.

The company admits no wrongdoing, but faced a potential $3.2 billion liability if the case had gone to court.

Public utilities will receive most of the settlement money, with PG&E being awarded $300 million. The money will be passed on to ratepayers in the form of discounts.


Follow us for more stories like this

CapRadio provides a trusted source of news because of you.  As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.

Donate Today  

 capitol

Sign up for ReCap and never miss the top stories

Delivered to your inbox every Friday.

 

Check out a sample ReCap newsletter.

Thanks for subscribing!

Thank you for signing up for the ReCap newsletter! We'll send you an email each Friday with the top stories from CapRadio.

Browse all newsletters

More Stories

 April Dembosky/KQED

As states ban abortion, Californians open their arms and wallets

June 30, 2022

Janelle Salanga / CapRadio

At 23 years old, the volunteer-run Lavender Library continues to build community, history for LGBTQ+ Sacramentans

June 30, 2022

AP Photo/Ringo H.W. Chiu

How California created the nation’s easiest abortion access — and why it’s poised to go further

June 24, 2022

Most Viewed

Abortion is still legal in California. Here are answers to questions about access in the state.

Northern California wildfires: Where to find updates on air quality, evacuations, and official information

Homeless Sacramento residents could face misdemeanor for blocking sidewalks under city proposal

California coronavirus updates: COVID-19 cases are increasing globally

Composting starts soon in Sacramento County. Here’s what you need to know.

We Get Support From:
Become a Supporter

Most Viewed

Abortion is still legal in California. Here are answers to questions about access in the state.

Northern California wildfires: Where to find updates on air quality, evacuations, and official information

Homeless Sacramento residents could face misdemeanor for blocking sidewalks under city proposal

California coronavirus updates: COVID-19 cases are increasing globally

Composting starts soon in Sacramento County. Here’s what you need to know.

Back to Top

  • CapRadio

    7055 Folsom Boulevard
    Sacramento, CA 95826-2625

    • (916) 278-8900
    • Toll-free (877) 480-5900
    • Email Us
    • Submit a News Tip
  • Contact Us

  • About Us

    • Contact Us / Feedback
    • Coverage
    • Directions
    • Careers & Internships
    • Mission / Vision / Core Values
    • Press
    • Staff Directory
    • Board of Directors
  • Listening Options

    • Mobile App
    • On Air Schedules
    • Smart Speakers
    • Playlist
    • Podcasts
    • RSS
  • Connect With Us

    •  Facebook
    •  Twitter
    •  Instagram
    •  YouTube
  • Donate

  • Listen

  • Newsletters

CapRadio stations are licensed to California State University, Sacramento. © 2022, Capital Public Radio. All Rights Reserved. Privacy Policy | Website Feedback FCC Public Files: KXJZ KKTO KUOP KQNC KXPR KXSR KXJS. For assistance accessing our public files, please call 916-278-8900 or email us.