FERC Deadline Looms for Energy Traders

Federal regulators could yank power-selling privileges from four major energy companies as early as today.

The companies -- Avista, El Paso Electric , Portland General Electric and the trading arm of Williams (WMB Quote) -- are due to supply regulators with additional proof they didn't manipulate Western power markets to drive up electricity prices in 2000 and 2001. Otherwise, the Federal Energy Regulatory Commission could take the unprecedented step of revoking the companies' authority to set electricity prices in wholesale markets.

Williams confirmed that FERC visited its Tulsa headquarters Wednesday to examine the company's trading records. In a conference call Monday, Williams said it extended the invitation to FERC in an effort to reassure the public that it has done nothing wrong. ...