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Settlement Reached in Lawsuit Filed Over California Energy Crisis of 2000-2001

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Case ID: 4648 | Consumer Products | 02/07/2006

A proposed class action settlement is pending between plaintiffs representing business and residential consumers of electricity in Arizona, California, Idaho, Montana, New Mexico, Nevada, Oregon, Utah and Washington and defendants Reliant Energy, Inc. and its affiliates. The lawsuit is pending in the Superior Court of the State of California, San Diego County.

The Settlement provides approximately $512 million in cash and other consideration. Of this amount, $138.5 million will be paid to the Attorneys General of California, Oregon and Washington, including funds for the benefit of electricity ratepayers. Reliant will also give up over $299 million in claims it has raised against the State of California and California utility companies.

The proposed Settlement includes all individuals and entities in Arizona, California, Idaho, Montana, New Mexico, Nevada, Oregon, Utah and Washington that purchased electricity for their home or business (and not for resale or distribution) at any time between July 1, 1998 and October 12, 2005.

Class Members who do not wish to be included in the Settlement Class or bound by the terms of the Settlement must exclude themselves in writing on or before March 15, 2006. The address to which exclusion requests should be sent, and the information required within the request, varies depending on the state in which the energy consumer resides.


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