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JUNE 19, 2001

The Federal Energy Regulatory Commission on Monday voted 5 to 0 to impose limits on the wholesale price of power in California.

The move will extend price caps on short-term sale of power during non-emergency periods. Previously, FERC only had price limits during power emergencies.

FERC's action will also prevent companies from selling power to 10 other Western states where price constraints are not in effect and then selling the power back to California at a higher rate.

President Bush opposes "firm price controls" but said yesterday he accepts limited restraints.

Get the Story:
U.S. Further Limits Calif. Power Prices (The Washington Post 6/19)
Price Limits Extended on Power (The New York Times 6/19)
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Relevant Links:
Federal Energy Regulatory Commission - http://www.ferc.gov

Related Stories:
Bush to back energy price limits (6/18)