FERC Chief Says Price Caps Should Expire

Pat Wood, head of the Federal Energy Regulatory Commission, said price caps on wholesale electricity sales in California should expire as planned on Sept. 30 as a way to encourage market reforms.

California energy regulators and the energy industry need to complete market reforms under consideration, and lifting the price caps can work as an incentive for officials to move quickly to avoid a sharp increase in prices, Wood said during a field visit by a congressional committee to Sacramento.