Energy

San Francisco, Calif.-Based Utility Borrows Funds

March 3, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>In an announcement that infuriated some consumer advocates and lawmakers Friday, PG&E Corp. said it had borrowed $ 1 billion to pay its bills -- including a $ 116 million stockholder dividend</p>

PG&E used $1 billion loan to pay $116 million dividend to stockholders

March 3, 2001  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>PG&E Corp. used part of a $1 billion loan, which closed Friday, to pay a $116 million dividend to stockholders, even as state taxpayers continued to pick up the tab to buy the electricity needed by its utility subsidiary.</p>

Consumer advocates criticize parent company’s loan deal

March 3, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Consumer advocates are criticizing a deal under which Pacific Gas & Electric's parent company borrowed $1 billion to pay stockholders and its debts but not any of the billions owed by the utility.</p>

California to set aside another $500 million to buy power

March 3, 2001  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>State officials say they will set aside another $500 million to keep electricity crackling across California, bringing the cost of the state's power crisis to taxpayers to $3.2 billion so far.</p>

Cost to buy electric lines draws flak

March 2, 2001  ·  Consumer Watchdog

<p class="source">Copley News Service</p> <p>The $2.76 billion price tag assigned by Gov. Gray Davis to the purchase of Southern California Edison's transmission lines is flipping some advocates of the idea into opponents or skeptics.</p>

Bailout Watch #15 – Feb 28, 2001

March 1, 2001  ·  Consumer Watchdog

<strong>BAILOUT WATCH: Keeping an eye on the energy industry and the politicians<br/> <br/> Bailout Watch #15 - Feb 28, 2001<br/> <br/> Good news: the crisis is over. </strong> According to Gov. Davis, California has reached "the...

Energy Experts Belie Davis’ Rosy Prediction

February 28, 2001  ·  Consumer Watchdog

<h3>Summer expected to be crunch time</h3><p class="source">The San Francisco Chronicle</p> <p>Gov. Gray Davis' optimistic assessment that California may be on the "back side" of its energy crisis flies in the face of what many energy companies and other experts predict.</p>

Bailout Watch #14 – Feb 27, 2001

February 28, 2001  ·  Consumer Watchdog

<strong>BAILOUT WATCH: Keeping an eye on the energy industry and the politicians<br/> <br/> Bailout Watch #14 - Feb 27, 2001<br/> <br/> Public subsidies to cover power grid purchase?</strong><br/> <br/> According to the Wall Street Journal,...

California Senator Announces Plan to Reward Electricity Conservation

February 27, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>In a move that would financially reward consumers for conserving energy, State Sen. Don Perata unveiled a proposal Monday that would provide $ 1 billion in rebates to California residents who reduce their electricity use this summer.</p>

Under plan, utility customers would get rebates

February 26, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>Customers of California's three private electric utilities would get rebates for conservation this summer under a proposal by Sen. Don Perata, D-Alameda.</p>

DAVIS STRIKES DEAL WITH EDISON TO BUY GRID

February 25, 2001  ·  Consumer Watchdog

<h3>STATE WOULD PAY $2.76 BILLION FOR GRID AND GUARANTEE BAILOUT BONDS. BUT THE PACT IS MET WITH MUCH SKEPTICISM AND PG&E IS BALKING AT A SIMILAR DEAL</h3><p class="source">Los Angeles Times</p> <p>Gov. Gray Davis announced a major breakthrough Friday in the struggle to bring stability to California's reeling electricity network</p>

Edison to sell lines, Davis says

February 24, 2001  ·  Consumer Watchdog

<p class="source">The San Diego Union-Tribune</p> <p>Reaching the first of three accords needed for his power-grid takeover plan, Gov. Gray Davis announced yesterday he has a tentative agreement with Southern California Edison Co. to buy its power lines</p>