Trio of PSEG Affiliates Accused of Manipulating Wholesale Electricity MarketAugust 6, 2010 – In The News
Three affiliates of Public Service Enterprise Group have been accused of manipulating the wholesale electricity market, which discriminated against competitors and increased prices for consumers. The complaint was filed last month, and asks the New Jersey Board of Public Utilities Commission to end the preferential rate PSEG Power has, or make all rates the same for competitors.
Steven Goldenberg participated in the rate case and said, “If PSEG Power were to lose market-based rate authority, it would have to charge cost-based rates established by FERC, which likely would be lower than what it had been charging.”
“The loss of market-based rate authority would be quite significant for PSEG," Goldenberg said. “It is something that you look to have if you are a power producer."