Energy

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>

California’s largest utility files for bankruptcy

April 7, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>Pacific Gas & Electric Co. filed for bankruptcy Friday, rejecting the governor's desperate attempts to stabilize California's power supply and throwing the contentious issue of electricity rates into the hands of a little-known federal judge.</p>

California’s largest utility files for bankruptcy

April 7, 2001  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>California's 11-month-old electricity crisis took a dramatic turn Friday when the venerable Pacific Gas & Electric Co. unexpectedly filed for bankruptcy, stunning state officials, consumers and investors.</p>

California utility files for bankruptcy

April 7, 2001  ·  Consumer Watchdog

<p class="source">Agence France Presse</p> <p>Frustrated with stalled negotiations with California state officials to stop financial hemorrhaging, Pacific Gas and Electric Company filed Friday for bankruptcy protection.</p>

Bankrupt PG&E files for protection

April 7, 2001  ·  Consumer Watchdog

<h3>CHAPTER 11: Gov. Davis says action complicates negotiations with Edison.</h3><p class="source">Ventura County Star</p> <p>Pacific Gas and Electric, which delivers power to 13 million users in Northern California, filed for bankruptcy Friday, turning its back on Gov. Gray Davis and abandoning hopes for a negotiated resolution to the state's energy crisis.</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>