Article: Federal Regulators Raise Wholesale Price Cap on Electricity in California.

By Dena Bunis and John Howard, The Orange County Register, Calif. Knight Ridder/Tribune Business News

Jul. 18--WASHINGTON--Federal energy regulators Wednesday capped wholesale electricity prices in California at $250 per megawatt-hour -- up from the $91.87 it set a week ago -- and adopted other measures designed to permanently avert the price spikes, shortages and rolling blackouts of a summer ago.

And the Federal Energy Regulatory Commission also ordered the dismantling of the current California Independent System Operator board that manages the state's electricity grid, saying the panel as constituted by Gov. Gray Davis has not been independent. ...

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