California Electricity Consumers Relief Act of 2001

California Electricity Consumers Relief Act of 2001 - Amends the Federal Power Act to direct the Federal Energy Regulatory Commission (FERC) to: (1) order a refund (with interest) of that portion of electricity rates or charges that FERC finds to be in excess of market-based rates that are just, reasonable, and neither unduly discriminatory nor preferential; and (2) issue an order establishing the maximum price for electricity sold at wholesale in the Western System Coordinating Council after June 1, 2000, if it determines that rates charged for wholesale sales of electricity are unjust and unreasonable under the Federal Power Act.

Prescribes guidelines governing: (1) FERC response to certain State petitions regarding such unjust rates; (2) FERC establishment of maximum electricity prices; (3) mandatory refunds of prices paid in excess of such maximum; and (4) civil penalties for violations of this Act.