State, Power Suppliers Revise Contracts
California officials have reached agreements with six additional energy companies to revise contracts for long term electricity that were made at the top of the state’s energy crisis in 2001, the Wall Street Journal reported.
Curtis Wagner, chief administrative law judge for the Federal Energy Regulatory Commission, said he expects remaining contracts between the state and energy companies to be reworked. Williams Cos. and GWF Energy were the only companies whose identities were disclosed.
In April, California revised contracts with several power companies that shaved $3.5 billion off the original $42.8 billion contracts.
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