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SDG&E ratepayers expected to share in benefits from $750 million settlement from Canadian power company


Last updated 8/18/2013 at Noon

SAN DIEGO - San Diego Gas & Electric Co. ratepayers are expected to share benefits from a $750 million settlement from a Canadian government power company that reportedly drove up electricity prices in California for than a decade, it was reported today.

Powerex, the electricity trading subsidiary of BC Hydro, will pay $273 million in cash and offer California electric utilities a credit worth $477 million to settle claims of allegations that it help inflate the California power market during the state's electricity market crisis of 2000 and 2001.

BC Hydro is a "crown corporation'' owned...

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