SCE 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 issued the following statement.

ROSEMEAD, Calif., March 26, 2003-Today's action puts us on a path to securing customer relief that we hope FERC expeditiously orders.  We are pleased FERC recognizes the pervasive gaming and manipulation of the electric and gas markets in California and the West, but we realize that there's still more to be done.

# # #

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.