U.S. approves BP settlement with state
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BP’s $18-million settlement with California utilities and state officials over electricity sales made during the state’s energy crisis in 2000 and 2001 was approved by the Federal Energy Regulatory Commission.
The commission issued an order approving the agreement among London-based BP and the state’s three major utility owners, PG&E; Corp., Edison International and Sempra Energy Corp., as well as the state’s utility regulator, attorney general, Electricity Oversight Board and Department of Water Resources.
The settlement resolves claims arising from power sales made by BP Energy, a subsidiary, to California from Jan. 1, 2000, to June 20, 2001.
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