By Jonathan Crawford: May 13, 2016
Sixteen years after California experienced rolling blackouts and soaring power prices, two of the last companies accused of taking advantage of the shortage are facing a decision by federal regulators.
Royal Dutch Shell Plc and Iberdrola SA have until May 27 to respond to a Federal Energy Regulatory Commission judge’s initial ruling last month that they sold electricity at inflated prices during the California power crisis of 2000-2001. While other companies that sold power under long-term contracts in the state have long since settled charges, Shell and Iberdrola elected to fight the case.