Energy

Plan to Stabilize Utilities Is Outlined in California

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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

February 17, 2001  ·  Consumer Watchdog

<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>

Davis to unveil rescue proposal Power line buyout could cost consumers

February 16, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Democratic lawmakers and Gov. Gray Davis today will propose a plan to rescue two debt-ridden utilities by buying their transmission lines and asking ratepayers to pick up a portion of the tab.</p>

California governor proposes state power line purchase

February 16, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Plunging California deeper into the energy business, Gov. Gray Davis proposed a multibillion-dollar plan Friday to rescue two utilities from the brink of bankruptcy</p>

Utilities not thrilled with Davis’ energy plan

February 16, 2001  ·  Consumer Watchdog

<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

February 16, 2001  ·  Consumer Watchdog

<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>

Governor Readies Utility Blueprint

February 16, 2001  ·  Consumer Watchdog

<h3>Parent firms would help defray price increases</h3><p class="source">The San Francisco Chronicle</p> <p>Gov. Gray Davis is expected to unveil a rescue plan today for California's near-bankrupt utilities that includes buying their transmission lines</p>