Price Gouging Charged.Southern California Edison Southern California Edison (or SCE Corp), the largest subsidiary of Edison International (NYSE: EIX), is the primary electricity supply company for much of Southern California. It provides 11 million people with electricity. , one of the state's struggling utilities, has accused the El Paso El Paso (ĕl pă`sō), city (1990 pop. 515,342), seat of El Paso co., extreme W Tex., on the Rio Grande opposite Juárez, Mex.; inc. 1873. Corp. of artificially inflating the price of natural gas in the state. El Paso owns the largest pipeline connecting gas-producing regions in the Southwest with Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . SCE SCE (in Scotland) Scottish Certificate of Education SCE n abbr (= Scottish Certificate of Education) → Schulabschlusszeugnis in Schottland has charged that market manipulation by El Paso had cost it an extra $1 billion to run its gas-fueled power plants. The period in dispute covers the 13 months ended March 31. Edison claims that, overall, El Paso overcharged energy producers by as much as $3.7 billion over the last year. The Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. is reviewing a complaint by the state's regulators that a key cause for California's soaring natural gas prices during the last year was El Paso's manipulation of the market. An El Paso subsidiary has replied to the filing, saying that high prices for gas came from unexpected and unprecedented demand and an insufficient supply infrastructure," not from a manipulation of supply. The company blamed bad public policy decisions in California for its current energy problems. |
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