Home » California cleared to seek redress for 2000-2001 energy gouging

Permanent Record of Pat Wood

PERMANENT RECORD OF PATRICK WOOD, III

CHAIRMAN, FEDERAL ENERGY REGULATORY COMMISSION

Mr. Wood began his regulatory career as an appointee by then-Texas Gov. George W. Bush to the Texas Public Utilities Commission.  There Wood befriended executives at Enron, Reliant and other Texas energy raiders.  Wood’s tenure at FERC began in 2001 as a result of the strong personal endorsement by his friend, Ken Lay, CEO of Enron.

As director of FERC, Wood has overseen the half-hearted investigation of the gouging of California’s electric markets by Enron and other energy traders.  Wood has pressured FERC’s staff to forge secret settlements with many of the perpetrators.

To make matters worse, Wood and two other Bush appointees have refused to order refunds of $8.9 billion owed to rate-payers by the energy gougers…even with the full knowledge about the now infamous Enron tapes in which energy traders joke about abusing “Grandma Millie” and driving California into bankruptcy.  Wood is currently pushing hard for California to spend billions of dollars to upgrade transmission lines that would be controlled by FERC.

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