SCE Responds to FERC Decision to Make Public New Evidence of Energy Market Wrongdoing

March 21, 2003

March 21, 2003

The Federal Energy Regulatory Commission (FERC) today announced it will make public 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 21, 2003 - We believe FERC's decision to make public the results of the recent investigation we and other state entities conducted into market manipulation represents a significant step forward in the effort to obtain a full refund for customers of unjust power costs resulting from California's energy crisis.

The findings represent compelling evidence of pervasive violations of market rules by numerous merchant participants.  We continue to press FERC to order the return of billions of dollars of energy overcharges to California utility customers.

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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.