Ensign, Reid Secure Amendment Aimed at Relief for Nevada Power Ratepayers
ENSIGN, REID SECURE AMENDMENT AIMED AT RELIEF FOR NEVADA POWER RATEPAYERS
Senators John Ensign and Harry Reid have won approval of an Energy Bill amendment that could lead to Nevada Power ratepayers being relieved of $330 million in fees under fraudulent contracts entered into with defunct energy company Enron. The amendment was authored by Senator Maria Cantwell, and Ensign successfully lobbied his Republican colleagues for support. The measure has been approved by the Senate Energy Committee and will be part of the energy bill that will be voted on by the full Senate.
"Nevada ratepayers should not be held liable for millions of dollars' worth of electricity that they never received," Ensign said. "I will do whatever I can to make sure Nevada is not stuck with a $330 million bill for acts of fraud committed by Enron. The approval of this amendment is a major step in that direction."
The amendment, approved by the Senate Energy Committee by voice vote this morning, reasserts the authority of the Federal Energy Regulatory Commission (FERC) for determining the validity of the Enron contracts. FERC has already indicated that Sierra Pacific and Nevada Power should not be responsible for the contracts, so approval of the amendment is a major victory for Nevada residents.
"Enron is one of the worst corporate swindlers in modern history," Reid said. "And the company is trying to force Nevadans to pay for its illegal and fraudulent activities and for electricity it never delivered. The committee's vote today reinforces what we in the Congressional delegation have been saying all along, that FERC should step in and protect Nevada ratepayers by voiding these contracts. It is FERC's main responsibility to protect ratepayers from just this type of abuse. It's time the agency stepped up to the plate."
"Nevada Power has fought hard on behalf of their ratepayers, so it's gratifying to help get this amendment secured and lift this $330 million burden from the backs of residential ratepayers in Nevada," said Ensign.
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