Jeff Bingaman: “The situation in California is very serious. It is now affecting not only the price and supply of electricity in…”

“The situation in California is very serious. It is now affecting not only the price and supply of electricity in California but the price and supply of electricity throughout the West. It poses a grave danger to the economy of the nation as a whole. The State of California is doing what it can to cope with this crisis. It is past time for the Federal Energy Regulatory Commission to use its existing authority to bring wholesale prices under control. I commend the Senator from California, Senator Feinstein, for her initiative in crafting the bill, and the chairman of the Energy Committee, Senator Murkowski, for agreeing to give us a hearing on it.”