Reliant Energy Inc. on Monday agreed to pay $445 million to settle lawsuits filed by investor-owned utilities that claimed the company attempted to pump up trade volumes and revenues during an energy crisis in Western states.
The settlements with Rosemead-based Edison International, San Diego Gas & Electric, Pacific Gas & Electric Co. and other entities call for Reliant to pay $150 million in cash. Reliant will also waive claims to its receivables for power deliveries from Jan. 1, 2000, to June 21, 2001.
