Sempra charged with price manipulation

According to the Public Utilities Commission, Sempra, parent company of Southern California Gas, manipulated natural gas prices which precipitated the energy crisis in 2000-01:

A two-year investigation by the California Public Utilities Commission has concluded that a Sempra Energy utility knowingly manipulated the natural gas market during the state's power crisis of 2000-2001, causing higher prices for consumers.

The conclusion implicates Sempra in the widespread market rigging that investigators say played a key role in the crisis.

It calls for the Sempra utility, Southern California Gas, to refund all profits earned from gas trading during the period under scrutiny, about $29 million plus interest.

That gives a new name to those "big Texas energy companies" Gray Davis liked to blame for his demise...