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Seattle City Light settles energy crisis claim with Powerex for $2 million


October 14, 2013

By Jeannine Anderson
Editor
Seattle City Light and Vancouver, B.C.-based Powerex filed a settlement agreement with the Federal Energy Regulatory Commission on Oct. 10 to resolve claims relating to high prices for energy that were charged during the West Coast energy crisis of 2000-01. Powerex will pay Seattle $2 million, under the agreement.

To date, City Light said it has recovered a total of $4.6 million in settlements with 14 power sellers, including Powerex. The utility is continuing to pursue refund claims with eight other sellers. Trial on those claims is currently under way at FERC.

"We will continue to fight hard on behalf of our customer-owners to recover those funds," said General Manager and CEO Jorge Carrasco. "Every dollar we recover helps to hold down costs for our customers. This is a fair and amicable settlement with Powerex."

In August, Powerex agreed to a $750 million out-of-court settlement with the state of California and California utilities. (see Public Power Daily, Aug. 21, 2013).
 

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