Energy

State may buy more electricity

January 19, 2001  ·  Consumer Watchdog

<h3>Legislature approves spending $400 million over 12 days to prevent blackouts.</h3><p class="source">The Orange County Register</p> <p>Taxpayers risk losing as much as $400 million in an emergency plan passed by the Legislature on Thursday that allows the state to dip into its general fund to buy electricity for the next 12 days to prevent further blackouts.</p>

State auditor threatens to subpoena PUC

January 19, 2001  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>The state auditor last week threatened to issue subpoenas forcing the California Public Utilities Commission to cooperate with an investigation into the state's embattled power market.</p>

ROLLING BLACKOUTS PUSH ENERGY CRISIS FROM THREAT TO REALITY

January 18, 2001  ·  Consumer Watchdog

<h3>SYSTEM OPERATORS PULL PLUG ON CUSTOMERS FROM BAKERSFIELD TO EUREKA. DAVIS DECLARES AN EMERGENCY, CLEARING WAY FOR STATE TO PURCHASE POWER.</h3><p class="source">Los Angeles Times</p> <p>Rolling blackouts dimmed sizable portions of Northern and Central California on Wednesday, shutting businesses and tangling traffic</p>

California Lays Victim to Rolling Waves of Cynicism

January 18, 2001  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>Cynicism is rolling across California these days along with the blackouts and big utility bills. Most Californians don't doubt they're in the midst of a real energy crisis. But many contend that electricity shortages are simply the work of power companie</p>

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>