SCOTUS to Power Companies: Take a Hike.

Dow Jones is reporting that the Supreme Court has refused to hear a case that alleged FERC could/should do more to use the Federal Power Act to order refunds to energy companies:

WASHINGTON -(Dow Jones)- The U.S. Supreme Court Monday rejected a case that deals with the Federal Energy Regulatory Commission's power to deal with wholesale electricity refunds stemming from inflated power prices during the 2000-2001 California energy crisis.

Several companies have challenged a ruling by the 9th U.S. Circuit Court of Appeals, San Francisco, that said FERC had broader authority than it was exercising to order refunds under the Federal Power Act. The Ninth Circuit ruling came in a proceeding initiated by California in the state's bid to recover funds from inflated electricity prices during the crisis.

The companies appealing the Ninth Circuit decision include units of Royal Dutch Shell PLC (RDS), AES Corp. (AES), PPL Corp. (PPL), PNM Resources Inc. ( PNM), Sempra Energy (SRE) and Portland General Electric Co. (POR).

High Court Turns Away Power Cos Appeal On FERC Refund Powers [Dow Jones]