Reliant denies California allegations

A top Reliant Energy Inc. executive denied allegations of profiteering and megawatt laundering during congressional hearings Monday called to investigate the high cost of electricity in southern California. Vice-Pres. John Stout said the market has failed because of too much reliance on purchasing power on the spot market. Rep. Brian Bilbray (R-Calif.) of San Diego requested the field hearing of the Commerce Committee�s Energy and Power Subcommittee.

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