Energy

Utility’s bankruptcy filing adds to California’s confusion

April 9, 2001  ·  Consumer Watchdog

<p class="source">USA TODAY</p> <p>California's largest utility threw more heat than light on the state's energy muddle by filing for bankruptcy, power players in the deepening 9-month drama say.</p>

Power Grab — Some Democrats Favor Seizing Plants

April 9, 2001  ·  Consumer Watchdog

<p class="source">The San Francisco Chronicle</p> <p>With the prospect that state power buyers could burn through more than $2 billion a month this summer, some state Democratic leaders are pushing for a takeover of private power plants</p>

Davis agrees to buy transmission lines from Edison

April 9, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Just three days after Pacific Gas and Electric Co. filed for bankruptcy protection and cut off negotiations with the state, Gov. Gray Davis on Monday announced an agreement with Southern California Edison</p>

California’s biggest utility files for bankruptcy

April 9, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>California's biggest utility filed for bankruptcy protection Friday, seeking relief from the state's energy deregulation debacle. The surprise move will not turn out the lights but could mean political and financial turmoil for years to come.</p>

Calif. Gov. Achieves Power Deal

April 9, 2001  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>In a bid to pull the state's second biggest utility back from the brink of bankruptcy, Gov. Gray Davis announced a deal on Monday for the state to buy power lines from Southern California Edison for $2.76 billion.</p>

Ratepayers lose clout PG&E filing cuts consumers’ ability to exert pressure on a rescue plan.

April 8, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Short of electricity and even shorter of patience, consumers suddenly have lost some influence in California's energy crisis: their ability to exert political pressure over a rescue plan for the state's biggest utility.</p>

PG&E GAVE BONUSES PRIOR TO BANKRUPTCY

April 8, 2001  ·  Consumer Watchdog

<h3>BEFORE ITS FILING, THE UTILITY ALSO HAD $2.5 BILLION ON HAND AND HAD RESTARTED SERVICES SUSPENDED EARLIER BECAUSE OF SHAKY FINANCES.</h3><p class="source">Los Angeles Times</p> <p>In the days approaching Pacific Gas & Electric Co.'s bankruptcy filing, the debt-ridden utility had more than $ 2.5 billion in cash on hand and was restarting services suspended earlier this year because of its shaky finances.</p>

What people are saying about utility’s bankruptcy filing

April 7, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Here's what lawmakers, residents and others said Friday about Pacific Gas and Electric Co.'s bankruptcy filing:</p>

Power crisis divides Calif. congressional delegation

April 7, 2001  ·  Consumer Watchdog

<p class="source">San Diego Union Tribune</p> <p>Back in 1997, as California's experiment with electricity deregulation was about to get under way, the state's entire House delegation signed a letter assuring congressional leaders that the plan would ''provide tremendous benefits to the citizens</p>

Pacific Gas bankruptcy shouldn’t hurt Mass.

April 7, 2001  ·  Consumer Watchdog

<p class="source">The Boston Herald</p> <p>Yesterday's bankruptcy filing by Pacific Gas & Electric Co. should have little or no impact on Massachusetts plants owned by a sister subsidiary, experts said yesterday.</p>

Pacific G&E Files for Chapter 11

April 7, 2001  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>Gov. Gray Davis lashed out Pacific Gas and Electric's decision to file for bankruptcy, calling it selfish and "a slap in the face for Californians."</p>

PG&E DECLARES BANKRUPTCY; STATE’S CRISIS PLANS COLLAPSE

April 7, 2001  ·  Consumer Watchdog

<h3>CHAPTER 11 FILING, THIRD-LARGEST IN HISTORY, PUTS THE UTILITY'S FATE IN A JUDGE'S HANDS. COMPANY SAYS RESCUE TALKS WERE 'GOING NOWHERE'</h3><p class="source">Los Angeles Times</p> <p>California's largest utility, Pacific Gas & Electric, filed for federal bankruptcy protection Friday, unraveling the state's efforts to resolve the energy crisis and effectively turning the utility's future over to a federal judge.</p>