Energy

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>

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>

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>

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>