Energy

Senator: Bailout will cost public

September 29, 2001  ·  Consumer Watchdog

<h3>McClintock speaks to utility's workers, decries Gov. Davis' push for bill.</h3><p class="source">Ventura County Star</p> <p>State Sen. Tom McClintock told 50 Southern California Edison employees outside his Thousand Oaks office Friday morning that he opposes a bill that allows the utility to sell bonds to erase a $2.9 billion debt.</p>

PG&E Chief: FERC Delays Are Biggest Threat To Reorganization

September 28, 2001  ·  Consumer Watchdog

<p class="source">Energy Daily</p> <p>Despite howls of protest from California officials and consumer groups, the head of PG&E Corp. said this week he is very confident that the reorganization plan the company submitted in bankruptcy court last week will be enacted.</p>

Legislative Session to Aid Edison Is Delayed

September 28, 2001  ·  Consumer Watchdog

<h3>Davis asks lawmakers to report Oct. 9 to vote on a plan, not yet devised, to keep the utility from filing for bankruptcy.</h3><p class="source">Los Angeles Times</p> <p>Gov. Gray Davis issued a proclamation Thursday calling for a special legislative session to begin Oct. 9 so he can push lawmakers to approve a rescue plan for Southern California Edison.</p>

Davis orders energy session Legislators are told to report back to discuss a plan for Edison as Angelides continues to push for a bond issue.

September 28, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Gov. Gray Davis on Thursday formally summoned legislators back to the Capitol on Oct. 9 - one week later than expected - to devise a plan to put Southern California Edison back into the power-buying business.</p>

State treasurer urges regulators to set stage for bond sale

September 27, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>State Treasurer Phil Angelides said Thursday that delays by the California Public Utilities Commission mean the state won't issue $12.5 billion in energy bonds to repay the state general fund until next year.</p>

PG&E’s Solvency Plan Has Sparks Flying

September 25, 2001  ·  Consumer Watchdog

<h3>The utility says it can get out of bankruptcy without any government funds, but critics see a scheme to evade state regulations</h3><p class="source">Business Week Online</p> <p>California's simmering electricity crisis got what seemed like a jolt of good news on Sept. 20, when PG&E (PCG), the nation's largest electricity and gas provider, announced a plan to get its utility business out of bankruptcy in record time -- and with</p>

Bailout Watch #80 – Sep 21, 2001

September 21, 2001  ·  Consumer Watchdog

<p> <strong>BAILOUT WATCH: Keeping an eye on the energy industry and the politicians<br/> <br/> Bailout Watch #80 - Sep 21, 2001<br/> <br/> PG&E to California: We're above the law.</strong> The Pacific Gas & Electric...</strong> </p>

PG&E PARENT WOULD GET ITS ASSETS

September 21, 2001  ·  Consumer Watchdog

<h3>BANKRUPTCY JUDGE WILL HAVE FINAL SAY ON STRATEGY TO PAY CREDITORS IN FULL</h3><p class="source">Contra Costa Times</p> <p>A plan to restore bankrupt PG&E to fiscal health would transfer its power plants to its parent corporation, a move that worries state officials who would no longer be able to regulate a potentially cheap energy source.</p>

Deal to rescue Southern California Edison dies in Senate

September 19, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Gov. Gray Davis called a third emergency legislative session early Saturday, after the Senate failed to vote on a plan to rescue Southern California Edison from bankruptcy.</p>

Gov. Davis Calls Yet Another Session

September 18, 2001  ·  Consumer Watchdog

<p class="source">The Electricity Daily</p> <p>It's the California version of "The Perils of Pauline." California Gov. Gray Davis has promised to haul lawmakers back for a third "extraordinary session" ....</p>

California Lawmakers Punt On SCE Bailout; Governor To Try Again

September 18, 2001  ·  Consumer Watchdog

<p class="source">Energy Daily</p> <p>The California Senate balked last week at legislation that would restore Southern California Edison to financial health, choosing instead to adjourn early Saturday without voting on the controversial bill.</p>

Developments in California’s Energy Crisis

September 17, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Senate Leader John Burton and a consumer group question the need for the another extraordinary legislative session to deal with Southern California's financial woes</p>