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Enron Mail |
Cal-PX subpoenaed over price spikes
10/02/2000 The Energy Report © Copyright 2000 Pasha Publications, Inc. All Rights Reserved. The California Power Exchange (Cal-PX) has responded to subpoenas from several federal and state bodies investigating the price surges that hit California's wholesale market this summer, according to state officials. FERC, the California Public Utilities Commission, the California Attorney General, the California Electricity Oversight Board and auditors from the Joint Legislative Audit Committee of the California State Legislature are currently conducting investigations into electricity deals and pricing practices in the wholesale energy market during the summer. All of the agencies have issued different subpoenas demanding the release of documents pertaining to market conditions and participants. A Cal-PX spokesman called the subpoenas "no big deal" and said they are served to protect the confidentiality of the information given to the various agencies. Information about specific marketers and their methods could be detrimental if it were released to the public, the spokesman added. Attorneys for the Cal-PX have been cooperating with the different bodies conducting the investigations. Initially the agencies had announced they would work together on their investigations, but the need to issue separate subpoenas for the release of information demands that the bodies proceed individually. In addition, some of the agencies have needed to issue more than one subpoena to receive different records, contributing to the paper trail arriving at the Cal-PX.
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