Southern California Edison will receive a $15 million payment from Portland General Electric as its share of a settlement with the Oregon utility resolving claims of overcharging during California's 2000-2001 electric power crisis.
The $54 million refund to the electric utility subsidiary of Rosemead-based Edison International is the result of a settlement that Portland General reached with Edison, Pacific Gas and Electric Co., San Diego Gas & Electric, the California Public Utilities Commission and the California Attorney General, among other parties.
The settlement was reached after intervention by the U.S. Circuit Court of Appeals for the Ninth Circuit and staff of the Federal Energy Regulatory Commission. It must still be approved by the FERC board.
Southern California Edison Chief Executive Alan Fohrer said that the refund will show up on bills of Edison customers starting in Jan. 2008, as detailed in a previous order from the California Public Utilities Commission.
To date, Edison has received $720 million in refunds or settlement payments from electricity providers that were accused of overcharging during the energy crisis. The largest was $263 million from El Paso Corp. in 2003.
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