Energy Firms Comply With U.S. Order

Four energy companies that were threatened with the loss of wholesale power-trading privileges said Friday that they had submitted more information to federal regulators to prove they have behaved properly in Western markets.

The Federal Energy Regulatory Commission on June 4 accused Avista Corp., El Paso Electric Co., Portland General Electric Co. and Williams Cos. of withholding information from FERC’s investigation into abuses in California’s energy markets. The companies were given until Friday to respond or risk losing their ability to charge market prices.

FERC gave no indication whether officials were satisfied with the new filings. FERC said June 4 that other traders might receive similar orders.

Williams, of Tulsa, Okla., made no formal filing Friday, but a spokeswoman noted that the company had opened its trading books to FERC on Wednesday and that commission investigators remained there.

Williams is seen as having the most at stake because it is an active trader, whereas the three others are utilities with trading operations. If a company loses its ability to charge market rates, it must sell its power at the cost of production plus a reasonable return, rather than a price determined by a competitive market.

Avista, of Spokane, Wash.; El Paso Electric, serving parts of Texas and New Mexico; and Portland General, an Oregon utility owned by Enron Corp., all said they submitted extensive new material to FERC. All said they operated within market rules.