Light bill: $2 million per hour
<p class="source">Sacramento Bee</p>
<p>Keep your eyes on the money. The numbers are staggering.</p>
Energy
Energy and utility watchdog coverage — gas prices, oil-industry profits, utility rates, and clean-energy accountability.
Taxpayer, ratepayer costs spiral in California energy crunch
<p class="source">The Associated Press</p>
<p>Negotiations were to begin Monday on Gov. Gray Davis' multibillion dollar proposal to rescue two utilities from the brink of bankruptcy, in part by buying thousands of miles of electricity transmission lines.</p>
San Francisco-Based Utility Rejects California Governor’s Power Plan
<p class="source">Contra Costa Times</p>
<p>Troubled PG&E turned a cold shoulder to a plan unveiled by Gov. Gray Davis Friday that proposes buying its transmission lines</p>
Plan to Stabilize Utilities Is Outlined in California
<p class="source">The New York Times</p>
<p>Gov. Gray Davis sketched the broad outlines today of a multibillion-dollar plan to stabilize California's nearly bankrupt electric utilities by buying their transmission lines</p>
Davis’ plan stirs talk of higher rates
<h3>Critics of the proposed utility bailout say consumers will have to be billed more to cover bonds.</h3><p class="source">The Orange County Register</p>
<p>A hefty electricity rate hike for consumers would be unavoidable under Gov. Gray Davis' plan to bail out California's cash-strapped utilities</p>
Davis outlines plan to rescue ailing utilities
<h3>Grid purchase, bonds key to proposal; PG&E objects</h3><p class="source">The San Diego Union-Tribune</p>
<p>Gov. Gray Davis proposed a plan yesterday to rescue nearly bankrupt utilities by buying their transmission grids and letting them use part of their current rates to finance bonds to pay off their huge debts.</p>
Davis offers way to rescue state utilities
<h3>Republicans and consumer advocates assail the plan, saying it invites higher retail rates in the future.</h3><p class="source">THE PRESS-ENTERPRISE (RIVERSIDE, CA.)</p>
<p>California's collapsing electric utilities would "go back in business and keep the lights on" under a rescue plan Gov. Davis proposed Friday.</p>
Davis Discloses Plan to Purchase Power Lines From Utilities
<h3>In the long run, utilities likely to benefit at expense of ratepayers</h3><p class="source">The San Francisco Chronicle</p>
<p>So, will it work? Not even Gov. Gray Davis seems to know for sure whether his plan to rescue California's cash-poor utilities will leave consumers holding the bag.</p>
Davis Discloses Plan to Purchase Power Lines From Utilities
<h3>Lawsuits must be dropped, parent firms must return billions</h3><p class="source">The San Francisco Chronicle</p>
<p>Gov. Gray Davis took the first baby steps yesterday in negotiations with utilities that could leave California with ownership of a huge part of the power system and customers with the prospect of higher rates.</p>
ACCORD NEARER ON SALE OF POWER GRID TO STATE, GOVERNOR SAYS
<h3>DAVIS REPORTS TWO OF THREE FIRMS ARE AGREEABLE TO DEAL. BUT SOME UTILITY OFFICIALS REMAIN SHARPLY CRITICAL OF PLAN.</h3><p class="source">Los Angeles Times</p>
<p>Proclaiming that efforts to rescue the state's utilities are reaching a new level, Gov. Gray Davis said Friday that two of the three companies are willing to negotiate</p>
Utilities not thrilled with Davis’ energy plan
<p class="source">Sacramento Bee</p>
<p>Gov. Gray Davis unveiled a multibillion-dollar plan Friday that he claims will rescue debt-ridden utilities with little or no rate increase, but the long-awaited proposal wasn't immediately embraced by either the Legislature or utility executives.</p>
State assistance keeps advancing as Calif. IOU bailout talks continue
<p class="source">Retail Services Report</p>
<p>California lawmakers and consumer advocates breathed a collective sigh of relief early this week when a federal district court in Los Angeles denied Southern California Edison's request for a preliminary injunction against the state Public Utilities Comm</p>