Wednesday, April 25, 2001
Western Energy Crisis

Companies Profit from California’s Energy Crisis

At the request of Rep. Waxman, the Special Investigations Division prepared a report which documents the extraordinary revenues and profits that out-of-state energy generators doing business in California recorded last year. On average, their company-wide profits more than doubled from 1999 to 2000. In some cases, operating income from their California subsidiaries or operating units increased tenfold or more.