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By Sylvie Dale, Online Editor

LOS ANGELES, Calif., May 1, 2002 -- A price cap change order from the Federal Energy Regulatory Commission (FERC) took effect Wednesday.

The price cap on real-time electricity sales in 11 Western U.S. states fell from $108/MWh to $91.87/MWh as scheduled in the December order from FERC.

Spot power prices in the region currently hover around $30-$35/MWh, Dow Jones Newswires reported. Prices for the summer are expected to be about $50-$55/MWh in California and the Southwest, and $41/MWh in the Northwest U.S.

The California ISO has been trying to convince FERC to keep the cap in place beyond its scheduled end in September, but so far the commission has not done so.

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