Energy

S&P threatens to slash credit ratings on California utilities

December 21, 2000  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>Raising the stakes in California's energy crisis, Standard & Poor's warned Wednesday that it will cut off the financial lifelines of the state's two largest utilities unless electricity rate increases are approved by the end of the week.</p>

Power rate hikes mulled

December 21, 2000  ·  Consumer Watchdog

<p class="source">Los Angeles Daily News</p> <p>Under pressure from Gov. Gray Davis to bail out the power industry, the state Public Utilities Commission planned to consider today whether to raise rates charged consumers in the face of California's energy crisis.</p>

Power firms’ credit rating hinges on rise in rates

December 21, 2000  ·  Consumer Watchdog

<p class="source">Stockton Record</p> <p>SACRAMENTO -- Bad news from Wall Street on Wednesday stepped up a public relations battle over California's electricity crisis that is giving middle-of-the-road Gov. Gray Davis a hard time finding any middle ground.</p>

Impasse Pulls Plug on Power Bailout

December 21, 2000  ·  Consumer Watchdog

<h3>Talks with Davis collapse after PG&E, Edison refuse to accept rate increase, sources say</h3><p class="source">San Francisco Chronicle</p> <p>A secret deal brokered by Gov. Gray Davis to bail out California's two biggest utilities fell apart yesterday as both sides reached an impasse over the size of a proposed rate increase, sources said.</p>

AN EQUAL CHANCE

December 21, 2000  ·  Consumer Watchdog

<h3>CONSUMERS DEPRIVED OF A VOICE IN UTILITY RATE TALKS</h3><p class="source">Los Angeles Times</p> <p>How surprising and disappointing it is that the state's big consumer organizations--most of them leery of electricity deregulation from the start--have now been kept out of the discussions as deregulation falls into ever worse disaster and rate increases</p>

RATE HIKE NEEDED TO RESCUE ELECTRIC UTILITIES, DAVIS SAYS

December 20, 2000  ·  Consumer Watchdog

<h3>NO INCREASE WAS TO BE ALLOWED THIS SOON, BUT EDISON WARNS IT IS ON BRINK OF BANKRUPTCY. CRITICS DECRY 'RATEPAYER BAILOUT.' L.A., SOME OTHER AREAS UNAFFECTED.</h3><p class="source">Los Angeles Times</p> <p>More than 20 million California consumers can soon expect to be hit with bigger electricity bills, Gov. Gray Davis acknowledged Tuesday as the big utilities increased pressure on state and federal officials to rescue them from the ravages of a runaway ene</p>

Davis tries to slow rise in energy costs

December 20, 2000  ·  Consumer Watchdog

<h3>Supply shortage worsening</h3><p class="source">The Stockton Record</p> <p>SACRAMENTO -- Gov. Gray Davis on Tuesday began personally negotiating the scope of a rate increase proposed by the state's major utilities, while a critical power-generation shortage once again threatened to cause the collapse of California's electricity</p>

Davis sees utility bills going up: Otherwise, power firms will go bust, he says

December 20, 2000  ·  Consumer Watchdog

<p class="source">The Sacramento Bee</p> <p>Gov. Gray Davis acknowledged Tuesday that he expects California ratepayers to bear some of the burden for the state's failed attempt at electricity deregulation, saying the alternative -- utility insolvency -- is an unacceptable scenario that would leav</p>

Davis may have to support rate hikes

December 20, 2000  ·  Consumer Watchdog

<h3>'Everyone needs to be part of the solution,' he says, but he pledges it won't lead to an unfair burden for energy consumers.</h3><p class="source">The Orange County Register</p> <p>SACRAMENTO -- Electricity rate increases, once too taboo to mention, suddenly may not be looking so bad to politicians, particularly Gov. Gray Davis.</p>

Davis fights for a cap on power rates

December 20, 2000  ·  Consumer Watchdog

<h3>He says thousands of utility workers could face layoffs</h3><p class="source">San Diego Union-tribune</p> <p>Thousands of utility workers could be laid off in California if the electricity crisis continues, Gov. Gray Davis warned the Federal Energy Regulatory Commission in Washington yesterday.</p>

DAMAGE CONTROL A PRIORITY FOR DAVIS, UTILITIES

December 20, 2000  ·  Consumer Watchdog

<p class="source">Los Angeles Times</p> <p>As electricity rate hikes loom for millions of California consumers, Gov. Gray Davis and the state's three major utility companies are waging an intense war to insulate themselves from a consumer backlash.</p>

California Consumers to Shoulder Debt of California Utility Firms

December 20, 2000  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>SACRAMENTO, Calif.--California consumers will be forced to shoulder millions of dollars of debt incurred by utility companies under a deal being brokered by Gov. Gray Davis.</p>