Energy

Power politics

January 17, 2001  ·  Consumer Watchdog

<h3>California Democrats are trying to buy electricity to sell to state utilities, but Republicans and energy companies are crying foul.</h3><p class="source">Salon.com</p> <p>During his State of the State address last week, California Gov. Gray Davis said he did not want to point fingers or assign blame for the state's ever-worsening electricity shortage.</p>

Edison defaults on debt payments

January 17, 2001  ·  Consumer Watchdog

<h3>The decision moves the utility closer to bankruptcy. Some analysts see the move as a bargaining ploy.</h3><p class="source">The Orange County Register</p> <p>California's power crisis lurched into troubling new terrain Tuesday when Southern California Edison, the utility that serves most of Orange County, defaulted on more than half a billion dollars in debt</p>

EDISON IN DEFAULT; ASSEMBLY PASSES PLAN TO BUY POWER

January 17, 2001  ·  Consumer Watchdog

<h3>'TIME HAS SIMPLY RUN OUT,' COMPANY SAYS AS IT ANNOUNCES IT WON'T MAKE $600 MILLION IN PAYMENTS. DETAILS OF STATE PURCHASE CONTRACTS REMAIN UNCERTAIN.</h3><p class="source">Los Angeles Times</p> <p>Southern California Edison edged closer to insolvency Tuesday by declaring that it would not make nearly $ 600 million in electricity and bond payments</p>

California moves to keep utilities supplying power

January 17, 2001  ·  Consumer Watchdog

<h3>Near bankruptcy: Legislature proposes law to buy power on utilities' behalf</h3><p class="source">National Post</p> <p>California lawmakers began rushing an emergency bill through the legislature assembly last night aimed at keeping the lights on in the largest state in the United States.</p>

Calif. Acts to Keep Utilities Solvent

January 17, 2001  ·  Consumer Watchdog

<h3>Assembly Passes Emergency Bill to Make State an Electricity Middleman</h3><p class="source">The Washington Post</p> <p>Reeling from the nation's most serious energy crisis, California's Assembly late tonight passed emergency legislation to keep the state's two biggest utility companies solvent</p>

Assembly votes to buy, sell electricity to bail out power companies

January 17, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>With California's two major utilities on the ropes financially, the Assembly late Tuesday sought to calm Wall Street's jitters, passing hastily drawn legislation</p>

Wall Street Taking Pulse of Utilities

January 16, 2001  ·  Consumer Watchdog

<p class="source">The New York Times Company</p> <p>When the stock markets open for trading Tuesday morning, investors will be keeping a watchful eye on the parent companies of two of California's largest utilities, wondering if this is the week either declares bankruptcy.</p>

TROUBLES FACING CALIFORNIA IN ITS ENERGY CRISIS

January 16, 2001  ·  Consumer Watchdog

<p class="source">CNBC BUSINESS CENTER</p> <p>The California power crisis has two of California's biggest utilities now on the brink of bankruptcy. Southern California Edison, a unit of Edison International, and Pacific Gas and Electric both had their credit ratings slashed</p>

State asked to act fast on buying electricity; Assembly action to be sought today on plan to help Edison

January 16, 2001  ·  Consumer Watchdog

<p class="source">The San Diego Union-Tribune</p> <p>SACRAMENTO -- Lawmakers plan to take their first step toward solving California's electricity crisis today by asking the Assembly to quickly approve the state's purchase of electricity.</p>

California Legislators Seek Solutions to Utility Crisis

January 16, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>With payments looming for the state's two largest utilities and bankruptcy apparently not far off, lawmakers will be asked today to pass a bailout bill -- and fill in the details later.</p>

California Legislators Debate State Involvement in Energy Crisis

January 16, 2001  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>Four years after the state moved to deregulate the electricity industry, lawmakers are poised today to step back into the state's power picture when they begin considering whether to buy electricity for millions of Californians.</p>

CALIFORNIA CREATES PLAN TO HELP UTILITIES STAVE OFF BANKRUPTCY

January 15, 2001  ·  Consumer Watchdog

<p class="source">CBS MORNING NEWS</p> <p>California lawmakers could consider as early as tomorrow a plan to end the power crisis that's gripping the state. It would, in effect, make the state an electricity broker, but critics say taxpayers would pay a heavy price. Randall Pinkston reports.</p>