Utilities seek trading review

A number of US utilities are asking the federal government to review power trading arrangements in the wake of this summer`s heatwave havoc. More than a dozen utilities have petitioned the Federal Electricity Regulatory Com-mission (FERC) to convene an emergency conference and tighten requirements for power marketing companies.

Heatwaves caused severe price spikes and defaults on deliveries as demand surged in the Midwest and California.