Energy

Bailout Watch #30 – Apr 09, 2001

April 10, 2001  ·  Consumer Watchdog

<strong>BAILOUT WATCH: Keeping an eye on the energy industry and the politicians<br/> <br/> Bailout Watch #30 - Apr 09, 2001<br/> <br/> As Ye Sow, So Shall Ye Reap.</strong> P.G.&E. wrote the 1996 deregulation law, reaped its financial...

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>

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>

PG&E Bombshell Leaves Customers Grumpy, Cynical

April 7, 2001  ·  Consumer Watchdog

<h3>Rates expected to soar, blackouts to proliferate</h3><p class="source">The San Francisco Chronicle</p> <p>Your lights are still on.</p>

PG&E Bombshell Leaves Customers Grumpy, Cynical

April 7, 2001  ·  Consumer Watchdog

<h3>Rates expected to soar, blackouts to proliferate</h3><p class="source">The San Francisco Chronicle</p> <p>Your lights are still on.</p>

Crisis out of politicians’ hands But some think PG&E move could bring order to a chaotic process.

April 7, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>With the Pacific Gas and Electric Co.'s fate in the hands of a federal bankruptcy judge, state officials acknowledged Friday they have largely lost what power they had over the ultimate outcome of California's energy crisis.</p>