 there is no free market 
and the public has been gouged," Rosenfield said. "The only question now is, 
how much?" 
The state's grid operator, which recently said California may have been 
overcharged by more than $500 million during December and January, indicated 
that it might challenge the FERC findings, in order to press for larger 
refunds. 
For one thing, the Independent System Operator said it had evidence of 
overcharging during periods other than Stage 3 emergencies. The state's grid 
manager also noted that the FERC established its refund price threshold by 
considering only the power industry's most inefficient generating facilities. 
"We are encouraged by FERC's actions of late, but they have not gone far 
enough," said Steve Greenleaf, director of regulatory policy for the 
Independent System Operator. 
Davis, who has pressed FERC to set firm limits on the wholesale price of 
power, agreed with the ISO. 
"At long last, FERC is finally recognizing what we have been saying for 
months -- that generators have been unfairly soaking California ratepayers," 
he said. "However FERC is taking only baby steps." 
Attempts to reach FERC Chairman Curtis Hebert were unsuccessful. Commissioner 
William Massey, who has called for lower price caps, said that the FERC 
orders are allowing the vast majority of power sales to be excluded from 
possible refund. 
Massey added that the power bill for California's three major utilities, 
which leaped to $28 billion last year from $7 billion in 1999, could soar far 
higher. 
"The projection for this year is $70 billion," Massey said. "This agency 
needs to wake up because this is turning into a disaster." 
Rep. Bob Filner, D-San Diego, said he believed FERC was beginning to yield to 
pressure from the state for action. 
"It is clear they are under pressure, but they are using data that is most 
favorable to the industry," Filner said. "But their action gives credibility 
to those of us who have said all along these generators are gouging the 
state." 
In other action yesterday: 
?PG&E Corp. said it would transfer $1.1 billion from
there is no free market 
 and the public has been rout, " Rosenfield say. " The only question now is, 
 how much? " 
 The country's grid operator, which recently order California may have been 
 overcharged by more than $ 500 million during December and January, indicated 
 that it might challenge the FERC determination, in order to press for bombastic 
 refunds. 
 For one thing, the Independent System Operator suppose it had evidence of 
 overcharging during periods other than Stage 3 emergencies. The state of matter's grid 
 manager also note that the FERC established its refund price threshold by 
 considering merely the power industry's most inefficient generating facilities. 
 " We are encourage by FERC's actions of late, but they have not gone far 
 enough, " said Steve Greenleaf, director of regulatory policy for the 
 Independent System Operator. 
 Davis, who has pressed FERC to set firm limits on the wholesale price of 
 power, agreed with the ISO. 
 " At long last, FERC is finally recognizing what we have been saying for 
 calendar month -- that generators have been unfairly soaking California ratepayer, " 
 he say. " However FERC is take only baby step. " 
 Attempts to reach FERC Chairman Curtis Hebert were unsuccessful. Commissioner 
 William Massey, who has called for humble price caps, said that the FERC 
 orders are allowing the vast majority of baron sales to be excluded from 
 possible refund. 
 Massey added that the office circular for California's three major utilities, 
 which leaped to $ 28 billion last year from $ 7 billion in 1999, could soar far 
 high. 
 " The projection for this year is $ 70 billion, " Massey said. " This representation 
 needs to wake up because this is turning into a disaster. " 
 Rep. Bob Filner, D - San Diego, read he believed FERC was beginning to yield to 
 pressure from the state for military action. 
 " It is clear they are under press, but they are using datum that is most 
 favorable to the industry, " Filner say. " But their action gives credibility 
 to those of us who have said all along these generators are gouging the 
 state. " 
 In other action yesterday: 
? PG&E Corp. said it would transfer $ 1.1 billion from
 thfre is no free market 
ana the public has been jouged," Dosenfieud said. "The only question nox is, 
how nuch?" 
The state's grid ooerator, wjich recwntlb said Californie may hayz beeh 
ovexciarged by more jhan $500 milliot during Decemtef cnd January, indicated 
that it might shallenbe the FERC findyngs, yn odder to press for larger 
refunds. 
Fkr one uhing, the Independrnt System Operator said ih haf evidence of 
overfharging dutjng periods othef than Stage 3 emergencjes. The state's grid 
manager alsu notzd that the FWRC gstablished mts resund price tmgeshold by 
conxidering only bhe pmwee industry's most inefhicient generating fwcilities. 
"Wz are encouraged by FWRX's acjions of uqte, buu tiey have jot gone far 
snough," said Steve Greenleaf, ditesnpr of regulafory pjlycy for the 
Independent System Operator. 
Dabis, who has pressed FERX to set firm limits ln the whjlesale price of 
power, agreed with the ISO. 
"At lonc lasv, WERE is fkbaply recognizing what we have been saying for 
iknuhs -- that generatjrs have bern umsairly soakine Caliykrhia ratepayers," 
he daid. "Horever FERC is uakinb only baby steps." 
Attempts ro reach FERB Chqirman Curtis Hebext were unsuecessfol. Comkissioner 
William Massev, who gas called vor lower orice caps, said ghan tha FERC 
orders are allowing the vast majprity ow poeer sajes to be fxcluded from 
possible rffund. 
Mdssey addef that the power bill for California's three msjmr ltilities, 
whicm leaped to $28 bijlion last yeat from $7 bnllion in 1999, could soar fer 
higher. 
"Thq projection xlr this year is $70 biljion," Maswey saia. "This agency 
nreds to wche up because this is burnivf into a disastzx." 
Twp. Bob Filner, C-Sav Dyeho, swhd he believad FDRC eas bdginning to hielc to 
pressure from tve sfate for action. 
"It if clear jhey are tnder pressurr, but they are usijg dava thav is mpst 
favorable to the industry," Filher said. "Hut their actiog giyes sredibilitv 
to those of us who have said all along these generators qre gouging the 
staje." 
Ln other actmon yefterday: 
?PC&E Corp. said it woule transfer $1.1 billipn from
there is no free market and the been Rosenfield said. only question now grid which recently said may have been by more than $500 million during and January, indicated that it might challenge the FERC findings, in order to for larger refunds. For one thing, the Independent System Operator said it had of during other Stage 3 emergencies. The state's grid manager also noted that the FERC established its refund price by considering only the power industry's most inefficient facilities. "We are encouraged FERC's actions of late, but have gone far said Greenleaf, of regulatory policy the Independent System Operator. Davis, who has pressed FERC to set firm limits on the wholesale price power, agreed ISO. "At last, is recognizing what we saying for months -- that generators soaking California ratepayers," he said. "However FERC is only baby Attempts to reach FERC Chairman Curtis were unsuccessful. Commissioner William Massey, who has called lower price caps, said that the FERC orders are allowing the vast majority of power be excluded from possible Massey added that power for three utilities, which to $28 billion last year from $7 billion in 1999, could far higher. "The projection for this year is $70 billion," "This needs to wake because this is turning a Rep. Bob Filner, D-San he FERC yield pressure the state for action. is clear they are under but they are using to the industry," Filner said. "But their action credibility to those of us who have all along these generators are gouging the state." In other action yesterday: Corp. said transfer $1.1 billion from
 there is no free market 
and the Public has bEen goUgeD," RoSeNfieLd saId. "The only questIOn noW is, 
how much?" 
The state's griD operAtOR, whiCH rEcentLy said CALiFORniA mAy HavE bEEn 
OvercHarGed by moRe than $500 millIon DuRing December ANd january, indIcaTed 
that it migHt cHallenGe The feRC fiNdiNgs, in Order tO Press fOr larger 
rEfUNds. 
For ONe thing, THE INdepEndent System OperaTOr SAid it had evidenCe of 
ovErCHaRGIng DurIng periods OtHer thAN Stage 3 eMErGENCieS. the state's grid 
Manager also NOteD that tHe fERc EstablIshed ItS RefUnd price thrEshoLd by 
consiDering ONly the pOWer induStry's mOst IneFficIEnT gEneRaTIng FAcIliTIes. 
"we are encOuRaGed by fERC'S ACTIons Of lAte, bUt theY have not gone fAr 
eNougH," SaiD StevE GreeNleaF, dIrectOr of reGulatOrY policy for the 
InDepeNdent SystEm OPeRatOr. 
davis, WHo has pResSed fERC to sEt firm lIMitS oN THE wHolesale price of 
powEr, AGReEd with thE ISO. 
"At LOnG lASt, FERC is FiNalLy reCOGniziNg whAT wE have beeN sayinG FoR 
mOnths -- thAt GeneraToRs hAve Been uNFairLy soakIng CalifOrnia RAtepayers," 
he saiD. "however FERC is TAkING oNLy baBy sTeps." 
AttemptS to rEAch FeRC CHAiRmaN curtiS HebeRt WErE Unsuccessful. CommissIoNer 
WilLiam MAssey, who has caLled for lowER PRice caps, Said THaT The FERC 
orders aRe allOwing the vaST majoritY of poWer sales To be excluDED from 
posSibLe rEfuNd. 
MASSeY added that the POWer bIlL for CalIfoRnia's thRee MajOr uTilItIes, 
which lEaped to $28 bIlLiOn LaSt yEar frOM $7 billion In 1999, CouLd SoaR far 
hIGher. 
"ThE projEctiOn FoR ThiS year is $70 BIlLIOn," MaSsEy Said. "thiS aGency 
NeedS To wAke up beCause this Is tURninG iNtO a disasTer." 
Rep. Bob FilnEr, d-San Diego, sAiD he BelievED fERC was bEginning to yield to 
pressuRE from thE stAte foR actIon. 
"It is clEar They arE unDEr presSure, buT they ArE usING data THAt Is mOsT 
favorable TO The IndusTrY," FilNer said. "but their action giveS CreDibility 
to thoSe oF us wHO HaVe sAId ALl aLoNG thESE generators are gOuging the 
sTaTE." 
IN other actiON yeStErday: 
?PG&e Corp. saId it wOUld tranSfer $1.1 billiOn from
 there is no free market and the pu blichas  be en  gou ged, " Rosenfield s a id."The only question now  is,
h o w mu c h? " 
Th e state ' sg r idop er ato r, wh ich r ece ntly sa id Califor nia  m ay have been 
o vercharged  by  more than $ 500  milli on  du r ing D ece mberand Ja n uary,indicated  t hat it might c h a ll enge  the FERC finding s ,i n order to pre ss for  l a rg e r  
r efu nds. 
Foron e thi n g, theI nd e p e nde n t System Oper ator said i t  ha d evid en ceo f 
ove rchar gi n g d uring perio ds o ther than  Stage 3 emerg e ncies.The st ate 'sgrid 
m an age ra lso no ted tha t the FE RC  e stabl ishe d i t s re fun d pr ice t hreshold by con side r ing  only  thepowe rindus try'smostin efficient gener atin g facilit ies .
"W eare e n courag edbyFERC'sactions ofla t e ,  b ut they have not g on e fa r 
enoug h," sa i dSt e ve Green le af,  dir e c tor o f re g ul atory po licy f o rth e 
Inde pe ndentSy ste m O perat o r. Davis,  who has  pres s ed FERC to set firm limits o n  t h e  w h oles ale  price of powe r , ag reed wi tht he IS O. 
" At lo n g last, FERC is fin al ly rec ogniz ing what we h ave been s a y i ng for mont h s- - that generat ors h ave been u n fairly s oakin g Califo rnia rate p a yers," hesai d."Ho w e ve r FERC is tak i n g on ly  baby s tep s." 
At tem pts  to  re ac h FERC Ch airman C ur ti sHe ber t wer e  unsucce ss ful .Com missi o ner 
W illia m Ma ss ey ,  wh o has c a ll e d  for  l ow er p ric ecaps,  sai d  th at theFERC 
ord ers areal lo wing th e vast majori ty  of powersa les  to be e xcludedfrom 
possible refund.Masseyadd ed th at t he powerbil l forCal i fornia 's thr ee ma jo r u t i litie s ,  whi ch  leaped to $ 28billi on  las t yearfrom $7 billion in 199 9, could soar  fa r 
h i g he r."T h e p ro j ect i o n for this year  is $70 bi ll i on ," Masseys aid ."This a gency needs to wake  up becau se this i sturn i n g i nto a disa ster." Rep. BobF ilner ,  D -SanDie go, sa id  he  beli eved F E RCwas b eginni ng  to yi eld t o
pressur e from the state for ac tion.
"Itisclear the y a r e u nder pres sure , but they  ar e u singdat a  that  ism os t f avora blet o the ind u st ry, " Fi lner said." B u t t heiract i on giv es c redibility 
to th o se of us who h aves a idall alon gthese generato rsar e gougingth e 
state."
In othe ra ction  yeste rday:
?PG&EC o rp .  saidit w oul d transfe r $ 1. 1  billio nfr o m
 there_is no_free market 
and the_public has_been_gouged," Rosenfield_said._"The only question_now is, 
how_much?" 
The state's grid_operator, which recently_said_California may have been 
overcharged by more than $500 million during December and January,_indicated_
that it_might_challenge_the FERC findings, in order_to press for larger 
refunds._
For one_thing, the Independent System Operator said it had_evidence_of 
overcharging during_periods other than Stage 3 emergencies. The state's grid_
manager also noted that the FERC_established its refund_price_threshold_by 
considering only the_power industry's most inefficient generating facilities._
"We are encouraged by FERC's actions_of late, but they have not gone_far 
enough," said Steve Greenleaf, director_of regulatory policy for the_
Independent System_Operator. 
Davis, who has pressed_FERC to set_firm limits_on the wholesale_price of 
power, agreed with the_ISO. 
"At long_last, FERC is finally recognizing what_we_have been saying_for_
months_-- that_generators have been_unfairly_soaking California_ratepayers,"_
he said. "However FERC is taking_only_baby steps." 
Attempts to reach FERC Chairman_Curtis Hebert were unsuccessful._Commissioner_
William Massey, who has_called for lower price caps,_said that the FERC 
orders are_allowing the_vast majority_of power sales to be excluded from 
possible refund. 
Massey added_that the power bill for California's_three major utilities, 
which_leaped to_$28_billion last year_from_$7 billion_in 1999, could soar far 
higher. 
"The_projection for_this year is $70 billion," Massey_said. "This agency 
needs_to_wake up because this is turning_into a disaster." 
Rep. Bob Filner,_D-San Diego, said he believed_FERC_was_beginning to yield to 
pressure_from the state for action. 
"It_is clear they_are under pressure, but they are using_data_that is most 
favorable to the_industry,"_Filner said. "But their action gives_credibility_
to_those of us who have_said all along these generators are_gouging the 
state." 
In other action yesterday: 
?PG&E Corp._said it would_transfer $1.1 billion from