In 2002, then-California Attorney General Bill Lockyer announced a novel deal with Williams Energy Marketing & Trading Co.: He would drop price-gouging lawsuits against the company in exchange for cut-rate power contracts, millions to retrofit public buildings with energy-efficient devices, and six natural gas-fired turbines. But six years later, California ratepayers have yet to enjoy key benefits outlined in the deal. While the contracts are delivering electricity and natural gas, $69 million meant for retrofitting schools and hospitals sits untapped in an account that may be used to paper over a tiny bit of California's $17 billion deficit.
June 16, 2008 at 05:05 AM
1 minute read
The original version of this story was published on Law.Com
In 2002, then-Attorney General Bill Lockyer announced a novel deal with Williams Energy Marketing & Trading Co.: He would drop price-gouging lawsuits against the Tulsa, Okla., company in exchange for cut-rate power contracts, millions to retrofit public buildings with energy-efficient devices, and six natural gas-fired turbines.
Lockyer touted the $417 million settlement as a boon to “consumers who have borne the brunt of this state’s energy crisis” of 2000 and 2001.
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