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Enron Mail |
Additional information on the FERC hearing today:
Commissioners asked FERC staff on what basis the Commission could take remedial action -- prior to October 2, 2000 -- for the withholding of generating capacity by market participants. Unless the Commission can find violations of tariff provisions, contracts or market rules, FERC's hands are tied, according to Deputy General Counsel Cynthia Marlette. All of the commissioners voted for the order, Commissioners Massey and Breathitt will dissent in part concerning the decision to extend refund liability to non-public utilities in the California market. Commissioner Massey said that while he agrees with the "equity argument" for requiring non-public utilities to pay refunds, he does not believe the Commission has any legal basis to do so. Attached is a release just issued by FERC on today's meeting.
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