FERC considers whether to bless El Paso-California agreement. (Washington Watch).

Underground Construction, May, 2003 by Barlas, Stephen

It would seem like the curtain is ready to drop on the long-running El Paso-California drama; but don't rule out surprises at the end of this last act. The $1.7 billion El Paso agreed to pay to California and some of the other California-based litigants, will go a long way toward putting those lawsuits and the Federal Energy Regulatory Commission (FERC) investigation to rest.

But all El Paso and California signed was a memorandum of understanding. That is not a legal document. That document was to be submitted to FERC by the end of April. According to a FERC source, the agency isn't even thinking about whether the settlement passes muster and won't until the legal language hits the commission's inbox. That source also notes that the settlement does not cover...

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