Powerex (electricity)
Encyclopedia
Powerex Corp., a wholly owned subsidiary of BC Hydro
, is a leading marketer of wholesale energy products and services in western Canada
and the western US, and a growing niche player in other markets across North America. In business since 1988, Powerex Corp. is headquartered in Vancouver, British Columbia. Powerex Corp. buys and sells wholesale electricity, natural gas and environmental energy products and services.
Powerex was active and its role was controversial during the California electricity crisis
of 2000-2001. The company's action was investigated by the Federal Energy Regulatory Commission
(FERC) in the United States and Powerex was sued by the Attorney General of California
, Bill Lockyer
, who accused the BC Hydro subsidiary of "market manipulation" and "gouging" consumers. Powerex rejected the accusations, calling California's lawsuit "the height of bad faith" while adding that the state had not paid an outstanding US$ 280 million for power delivered during the crisis.
The lawsuit was dismissed in August 2005 by a U.S. district court
, which affirmed the FERC jurisdiction on the issue. A few months earlier, in March 2005, Powerex refunded US$ 1.3 million to settle FERC allegations of market manipulation in California.
BC Hydro
The BC Hydro and Power Authority is a Canadian electric utility in the province of British Columbia generally known simply as BC Hydro. It is the main electric distributor, serving 1.8 million customers in most areas, with the exception of the Kootenay region, where FortisBC, a subsidiary of Fortis...
, is a leading marketer of wholesale energy products and services in western Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
and the western US, and a growing niche player in other markets across North America. In business since 1988, Powerex Corp. is headquartered in Vancouver, British Columbia. Powerex Corp. buys and sells wholesale electricity, natural gas and environmental energy products and services.
Powerex was active and its role was controversial during the California electricity crisis
California electricity crisis
The California electricity crisis, also known as the Western U.S. Energy Crisis of 2000 and 2001 was a situation in which California had a shortage of electricity caused by market manipulations and illegal shutdowns of pipelines by Texas energy consortiums...
of 2000-2001. The company's action was investigated by the Federal Energy Regulatory Commission
Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission is the United States federal agency with jurisdiction over interstate electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates...
(FERC) in the United States and Powerex was sued by the Attorney General of California
California Attorney General
The California Attorney General is the State Attorney General of California. The officer's duty is to ensure that "the laws of the state are uniformly and adequately enforced" The Attorney General carries out the responsibilities of the office through the California Department of Justice.The...
, Bill Lockyer
Bill Lockyer
William Westwood "Bill" Lockyer is an American politician. He is the current 32nd State Treasurer of California, elected in 2006 and re-elected in 2010. He has also served as California Attorney General and President Pro Tempore of the California State Senate...
, who accused the BC Hydro subsidiary of "market manipulation" and "gouging" consumers. Powerex rejected the accusations, calling California's lawsuit "the height of bad faith" while adding that the state had not paid an outstanding US$ 280 million for power delivered during the crisis.
The lawsuit was dismissed in August 2005 by a U.S. district court
United States district court
The United States district courts are the general trial courts of the United States federal court system. Both civil and criminal cases are filed in the district court, which is a court of law, equity, and admiralty. There is a United States bankruptcy court associated with each United States...
, which affirmed the FERC jurisdiction on the issue. A few months earlier, in March 2005, Powerex refunded US$ 1.3 million to settle FERC allegations of market manipulation in California.
See Also
- Alberta interdependence
- Western InterconnectionWestern InterconnectionThe Western Interconnection is one of the two major alternating current power grids in North America. The other major wide area synchronous grid is the Eastern Interconnection...