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Date: Tue, 24 Apr 2001 14:17:19 -0500 From: "Tracey Bradley" <tbradley@bracepatt.com< To: "Justin Long" <jlong@bracepatt.com< Cc: "Aryeh Fishman" <afishman@bracepatt.com<, "Andrea Settanni" <asettanni@bracepatt.com<, "Charles Ingebretson" <cingebretson@bracepatt.com<, "Charles Shoneman" <cshoneman@bracepatt.com<, "Deanna King" <dking@bracepatt.com<, "Dan Watkiss" <dwatkiss@bracepatt.com<, "Gene Godley" <ggodley@bracepatt.com<, "Kimberly Curry" <kcurry@bracepatt.com<, "Michael Pate" <mpate@bracepatt.com<, "Paul Fox" <pfox@bracepatt.com<, "Ronald Carroll" <rcarroll@bracepatt.com<, "Randall Rich" <rrich@bracepatt.com< Subject: US Sens Unveil Bipartisan Bill To Cap Western Pwr Prices Mime-Version: 1.0 Content-Type: text/plain; charset="us-ascii" Content-Disposition: inline FYI US Sens Unveil Bipartisan Bill To Cap Western Pwr Prices Updated: Tuesday, April 24, 2001 12:17 PM ET WASHINGTON (Dow Jones)--U.S. senators Dianne Feinstein, D-Calif, and Gordon Smith, R-Ore., Tuesday unveiled bipartisan legislation to require federal regulators to impose cost-based electicity price controls throughout the western U.S.. The bill was unveiled at a press conference designed to ratchet up pressure on the Bush administration to relent in its opposition to price controls in response to a pending electricity supply crisis in the region this summer. The measure would require the U.S. Federal Energy Regulatory Commission to limit the prices power suppliers can obtain to their cost of production plus a reasonable rate of return. The bill would allow FERC to determine what rate of return power providers could obtain. The cost-based price controls would remain in effect until March 1, 2003. The bill also targets a FERC decision deemed to be exacerbating California's electricity crisis by driving up natural gas costs in the state. It would require FERC to end a temporary suspension of a natural gas transportation rate cap for sales into California. The bill would mandate that natural gas providers disclose to FERC commodity and transportation prices for sales into California.
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