Power Providers to Discuss Settlement
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Sempra Energy, Mirant Corp. and other power providers will hold settlement talks next week with a Federal Energy Regulatory Commission judge over electricity-supply contracts they have with a California agency.
The state has sought to renegotiate $43 billion in multiyear contracts it signed with more than 20 suppliers last year to ease the state’s power crisis. Power prices in California have since dropped by more than 90%. The state filed complaints with the commission in February, alleging it was overcharged by as much as $21 billion.
FERC Chief Administrative Law Judge Curtis L. Wagner Jr. will meet with “all parties” Monday through Wednesday in Sacramento, according to the commission’s Web site.
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