The Federal Energy Regulatory Commission (FERC) Refund Proceedings stem from the energy crisis in California and the Pacific Northwest involving billion dollar claims that Enron and other sellers allegedly charged unjust rates in 2000 and 2001. By 2003, the Ninth Circuit had over 200 petitions challenging FERC’s authority to order refunds and the agency’s refund decisions in connection with the energy crisis.
The Ninth Circuit assigned Senior Circuit Judge Edward Leavy and Circuit Mediator Lisa Jaye to oversee the coordination and case management of the pending matters and to explore with the parties possible resolution through mediation. Initially, there were over 75 parties and 125 lead attorneys involved. The lead petitioners, known as the “California Parties,” have settled with more than three-quarters of the seller respondents and have negotiated settlements totaling several billion dollars in refunds to ratepayers. Today’s $750 million settlement between the California Parties and Powerex, a British Columbia, governmentally owned supplier of power, is one of the largest settlements to date.
The court is pleased that the California Parties and Powerex have reached settlement on what has been more than 10 years of protracted, complex refund litigation between them. Counsel have been tireless advocates for their respective clients and have worked diligently to achieve a successful resolution. This settlement gives the clients closure on the litigation and frees up their resources to pursue other endeavors.
Click here for the settlement document
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