El Paso Says It Didn’t Limit Supplies
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El Paso Corp. told federal energy regulators that it didn’t limit natural-gas supplies during California’s electricity crisis, and asked them to overturn a judge’s ruling.
A Federal Energy Regulatory Commission judge ruled last month that the company’s El Paso Natural Gas Co. unit used “unlawful” market power by shutting lines for unnecessary repairs and reducing supplier access from November 2000 to March 2001, boosting prices.
Shares of Houston-based El Paso rose 33 cents to $7 in New York Stock Exchange trading.
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