Energy

Calif. consumer group blasts reworked Calpine deals

April 25, 2002  ·  Consumer Watchdog

<p class="source">Megawatt Daily</p> <p>A California consumer group criticized the announced state savings by Gov. Gray Davis' renegotiated power deals with Calpine, and other companies, that cut the state's $43 billion long-term contract bill by $3.5-billion as "vastly overstated."</p>

Critics lambaste new energy deals;

April 24, 2002  ·  Consumer Watchdog

<h3>Worth more politically, they say</h3><p class="source">The San Francisco Chronicle</p> <p>Eight reworked energy contracts unveiled this week won't save California consumers much money and still lock the state into needless round-the-clock power purchases, consumer advocates said yesterday.</p>

Contracts called a wash for ratepayers;

April 24, 2002  ·  Consumer Watchdog

<h3>Renegotiated Power Deals Include $200 Million Trade-off In New Payments To Calpine</h3><p class="source">San Jose Mercury News</p> <p>The state's renegotiated power contracts include more than $200 million in new upfront payments to San Jose's Calpine in exchange for an agreement to shorten two high-cost deals, a trade-off consumer advocates said does little to benefit ratepayers.</p>

Calif. PUC seeks public input on PG&E reorganization

April 24, 2002  ·  Consumer Watchdog

<p class="source">Megawatt Daily</p> <p>The California Public Utilities Commission will begin seeking public comment next month on its alternative bankruptcy reorganization plan for Pacific Gas and Electric, under a resolution approved by the PUC Monday.</p>

State energy contracts reworked;

April 23, 2002  ·  Consumer Watchdog

<h3>Davis Sees $3.5 Billion Saved In Decade; Effect On Consumer Bills Unclear</h3><p class="source">San Jose Mercury News</p> <p>Under fire for overpriced electricity contracts, Gov. Gray Davis announced eight renegotiated deals Monday with San Jose's Calpine Corp. and four other energy companies that he said will shave $3.5 billion off the state's power bill over the next 10 yea</p>

PG&E STOCKHOLDERS WILL TAKE SIGNIFICANT HIT UNDER THE PUC’s REORGANIZATION PLAN

April 22, 2002  ·  Consumer Watchdog

<p class="source">Electric Utility Week (formerly Electrical Week)</p> <p>Pacific Gas & Electric stockholders will ''bear a significant portion of the burden'' of returning the utility to solvency under the alternative reorganization plan filed at the U.S. Bankruptcy Court in San Francisco April 15 by the California Public Util</p>

Campaign Reform Goes Unenforced;

April 17, 2002  ·  Consumer Watchdog

<h3>Politics: Santa Monica, Pasadena and Claremont delay action on voter-passed limits on gifts or jobs to officials whose actions aided the giver.</h3><p class="source">The Los Angeles Times</p> <p>The people spoke, but those in power didn't listen. So say proponents of a controversial campaign finance initiative passed by voters in three Los Angeles County cities more than a year ago.</p>

State files plan to rescue PG&E;

April 16, 2002  ·  Consumer Watchdog

<h3>Bankrupt Utility Opposes Proposal</h3><p class="source">San Jose Mercury News</p> <p>State utility regulators Monday filed their official plan for repayment of the $13.5 billion that PG&E's bankrupt utility owes, paving the way for creditors to vote on rival plans this summer.</p>

PUC plan would make PG&E sell off big stake

April 16, 2002  ·  Consumer Watchdog

<h3>Regulators Present Their Proposal, But The Bankrupt Utility Quickly Dismisses It As "Illegal"</h3><p class="source">The Contra Costa Times</p> <p>California regulators presented a plan Monday that would force PG&E Corp. to raise money to pay its utility creditors by selling outsiders a $1.75 billion stake in its crown jewel, the nation's largest regulated utility.</p>

PUC Unveils Plan for PG&E;

April 16, 2002  ·  Consumer Watchdog

<h3>Bankruptcy: Customers would pay $4.7 billion to help restore utility's fiscal health. The firm, activists are both critical</h3><p class="source">The Los Angeles Times</p> <p>State regulators unveiled a reorganization plan for Pacific Gas & Electric Co. on Monday that calls for customers to pay $4.7 billion--or $1.4 billion more than the stockholders would--to restore the company to financial health.</p>

CPUC Unveils PG&E Bankruptcy Proposal

April 16, 2002  ·  Consumer Watchdog

<p class="source">Energy Daily</p> <p>The California Public Utilities Commission (CPUC) Monday unveiled its version of how PG&E Corp. should get itself out of bankruptcy, using $2.7 billion in power payment overcollections, $1.6 billion in foregone dividends, issuing $1.75 billion in shares o</p>

PUC files its plan for PG&E to emerge from bankruptcy

April 15, 2002  ·  Consumer Watchdog

<p class="source">The Associated Press State & Local Wire</p> <p>State regulators proposed a plan Monday they said would allow Pacific Gas and Electric Co. to emerge from bankruptcy by January, without raising customers' electric rates.</p>