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Reports that U.S. federal regulators threatened to strip four energy traders of their ability to charge unregulated rates for electricity because of their responses to inquiries about their strategies in California. Belief that El Paso Electric, Avista Corporation and Enron subsidiary Portland General Electric may have submitted false information regarding manipulative energy trading strategies to the Federal Energy Regulatory Commission; Refusal of the Williams Companies to answer a crucial question; Company responses.

Reports the plan of the California utility regulators to issue a draft order on the increase of power rates. Information on the utility companies Pacific Gas & Electric Co. and Southern California Edison company power rates increase; Actions taken by the United States Federal Energy Regulatory Commission to address the power crisis in California.