PG&E fined over alleged secret dealings Posted: Thursday, November 20, 2014 2:34 pm | Updated: 4:00 pm, Thu Nov 20, 2014. PGE fined over alleged secret dealings Associated Press | SAN FRANCISCO (AP) — State regulators Thursday fined Pacific Gas Electric Co. and required its shareholders to cover as much as $400 million of a gas rate increase because of backroom negotiations between the utility and regulators. The California Public Utilities Commission voted 3-0 in favor of the penalty, which stems from recently released emails that show a PGE executive and CPUC officials discussing which judge to appoint to a case over gas rates. The executive objects to one judge for having a history of being hard on the utility. The emails are the latest in a series released by the utility and others that allegedly show PGE executives privately negotiating with CPUC officials. The commission’s decision fines PGE $1 million for the emails about the judge and requires PGE shareholders to cover a portion of the proposed rate increase instead of utility customers. Shareholders could be on the hook for as much as an estimated $400 million, though ratepayer advocates say the commission has discretion to require a much lower figure. The decision also restricts back-channel contact between commission members and the state’s largest utility. Ratepayer advocates were demanding that the commission release tens of thousands of additional emails that they say may also show illegal contact between the CPUC and the state’s largest utility. The commission did not address that request. An alternative proposal before the commission did not call for a fine or any shareholder contribution. PGE spokesman Keith Stephens said in a statement before the vote that the emails in question were inappropriate and some violated the CPUC’s rules. But he said PGE reported them, held people accountable and was “making significant and voluntary changes designed to prevent this from happening again.” Commission member Mike Florio, who was involved in an email exchange over the assignment of judges, recused himself from the vote as did commission President Michael Peevey. He received a copy of at least one of those emails and has announced he will not seek reappointment when his term ends at the end of the year. © 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. More about BusinessARTICLE: US stocks edge higher in afternoon trading ARTICLE: Deal divides billions in closed nuke plant’s costs ARTICLE: Arizona sues General Motors over delayed recalls ARTICLE: Hearing draws apology, admission in air bag mess More about General NewsARTICLE: FIFA to review World Cup corruption report Prosecutors dismiss 1975 murder charges against 3 ARTICLE: Prosecutors dismiss 1975 murder charges against 3 ARTICLE: US stocks edge higher in afternoon trading Discuss Print Posted inWire,Wire,Tntest on Thursday, November 20, 2014 2:34 pm. Updated: 4:00 pm. Business, General News, Industry Regulation, Government Business And Finance, Government And Politics, Government Regulations, Utilities, Judicial Appointments And Nominations, Industries, Judiciary, Government Appointments And Nominations | Location Tags: California, United States, North America
Posted on: Thu, 20 Nov 2014 21:50:11 +0000
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