SCE Chairman Bryson Responds to FERC Decision on Market Manipulation and Refunds

March 26, 2003

March 26, 2003

The Federal Energy Regulatory Commission (FERC) today announced it will take action on ordering additional refunds based on evidence gathered during three months of investigation by Southern California Edison (SCE) and four prominent California entities into why the state's wholesale power costs skyrocketed during the California power crisis.  In response, SCE Chairman John Bryson issued the following statement.

ROSEMEAD, Calif., March 26, 2003-Today's action is another important step in the long battle to recover for California consumers the massive costs incurred during the 2000-2001 energy crisis.  I am pleased that the FERC staff report recognizes the pervasive and unlawful manipulation of the electric and gas markets and identifies those who profited from this abuse.

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An Edison International company, Southern California Edison is one of the nation's largest electric utilities, serving a population of more than 12 million via 4.5 million customer accounts in a 50,000-square-mile service area within central, coastal and Southern California.  For more information on the California electricity market, see www.sce.com.