El Paso Corp. subsidiaries and California parties file settlement to resolve claims relating to Western energy crisis



HOUSTON, June 5, 2003 -- El Paso Corp. has announced that its subsidiaries El Paso Natural Gas Company, El Paso Merchant Energy Company, and El Paso Merchant Energy - Gas, L.P., together with the Public Utilities Commission of the State of California, Southern California Edison Company, Pacific Gas & Electric Company, and the City of Los Angeles, filed with the Federal Energy Regulatory Commission for approval of a Structural Settlement reached among them in complete resolution of Chief Judge Curtis Wagner's decisions of October 9, 2001 and September 23, 2002 relating to the energy crisis in the Western United States.

The Structural Settlement is one part of an overall settlement between El Paso Corporation and numerous public and private parties in California, Nevada, Oregon, and Washington to resolve claims that El Paso's actions caused the prices of natural gas and electricity to increase in the Western United States. The remaining portions of the settlement are in final stages of preparation. The company expects that all related documents will be approved by the parties and executed within the next two weeks.

"El Paso and the other parties have worked night and day to resolve their differences in these complicated proceedings, and the filing of the Structural Settlement is the first critical step to put these issues to rest so that El Paso and its stakeholders can move forward with certainty," said Ronald L. Kuehn, Jr., chairman and chief executive officer of El Paso Corporation. "We hope that the Federal Energy Regulatory Commission will promptly review the settlement and approve it as being in the public interest."

El Paso Corporation is a provider of natural gas services and the largest pipeline company in North America. The company has core businesses in pipelines, production, and midstream services. Rich in assets, El Paso is committed to developing and delivering new energy supplies and to meeting the growing demand for new energy infrastructure. For more information, visit www.elpaso.com .


Sponsored by FLSmidth
Recommend this article Recommend this article () You recommended this article You recommended this article ()
Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Current Magazine Issue

08/01/2013
Volume 117, Issue 8
1308PE_C1_digital

Buyers Guide Company Listings

Southern California Edison

Specializes in analysis of ion-exhange resin, chemical cleaning solvents, cooling water, wastewater, ultrapure water, bulk chemicals, boiler tube deposits, and more.

Power Industry Wire News

Freedom Energy Holdings Inc. Presents ELAS Prototype Demonstration for Engineering Execs; Michigan Government Officials

Freedom Energy Holdings Inc. Presents ELAS Prototype Demonstration for Engineering Exec...

FuelQuest Announces GRAIL 2014 Conference Speakers

FuelQuest Announces GRAIL 2014 Conference Speakers

Vista Partners Updates Coverage on Power Solutions International, Inc. (NASDAQ: PSIX); Price Target Raised to $110.00

Vista Partners Updates Coverage on Power Solutions International, Inc. (NASDAQ: PSIX); ...

Ultra Electronics USSI and Liquid Robotics Announce the Development of Long Duration, Maritime Security Solution

Ultra Electronics USSI and Liquid Robotics Announce the Development of Long Duration, M...

Ceres Police Department Selects Zero Motorcycles as Their Electric Motorcycle of Choice

Ceres Police Department Selects Zero Motorcycles as Their Electric Motorcycle of Choice

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>