California, still seeking to recover money spent on electricity during the energy crisis, won a split court decision Wednesday that puts another $900 million worth of potential refunds on the table, the Sacramento Bee reports.
But the ruling by the 9th U.S. Circuit Court of Appeals in San Francisco put another set of potential refunds — totaling about $1.8 billion — out of reach.
Power sellers say they did nothing wrong but have agreed to negotiated refunds totaling $5.3 billion. That figure includes at least $1 billion worth of IOUs from bankrupt entities like Enron Corp., debts that will be difficult if not impossible to collect.
