Energy

In California, Woes on Power Set Off Clashes

December 23, 2000  ·  Consumer Watchdog

<p class="source">The New York Times</p> <p>California's great experiment with utility deregulation relies on the wisdom of the marketplace to keep things running, but as the threat of utility bankruptcies, sharply rising electric rates and dimmed Christmas lights grip the state, the marketplace</p>

EDISON TO CUT 400 JOBS, DIVIDEND AMID CRISIS

December 23, 2000  ·  Consumer Watchdog

<h3>POWER COMPANY ANNOUNCES CASH-CONSERVING MEASURES, INCLUDING A $100-MILLION REDUCTION IN CAPITAL SPENDING</h3><p class="source">Los Angeles Times</p> <p>'gDnt company of Southern California Edison announced Friday that it will eliminate 400 contractor jobs, suspend the quarterly dividend paid to its common shareholders and cut $ 100 million in capital spending as part of its effort to stave off finan</p>

Compromise nearing in electricity crisis

December 23, 2000  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>Elements of a plan to ease California's electricity crisis include a 10 percent rate hike, coupled with long-term cost protections for residential customers and a requirement that two huge utilities absorb a large chunk of their losses from this summer's</p>

Stocks of California Utilities Rebound as Commission Pursues Rate Increases

December 22, 2000  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>SACRAMENTO, Calif.--Power use across the state dropped on Friday as schools, businesses and government offices shut down for the Christmas weekend, and energy officials predicted smoother sledding for the state's beleaguered power grid in coming days.</p>

SoCal Edison announces cost-cutting amid state energy crisis

December 22, 2000  ·  Consumer Watchdog

<p class="source">Associated Press</p> <p>Southern California Edison Co., one of two huge investor-owned utilities shaken by California's electricity crisis, announced cutbacks impacting 400 jobs Friday - a day after state regulators favored customer rate hikes in January to rescue the utilities.</p>

PUC SETS STAGE FOR INCREASE IN ELECTRICITY BILLS

December 22, 2000  ·  Consumer Watchdog

<h3>RELUCTANT COMMISSIONERS PREPARE TO REPEAL THE RATE CAP AS EARLY AS JAN. 4. CONSUMER GROUPS OBJECT, SAYING THE COMMISSION SHOULD PROTECT TAXPAYERS.</h3><p class="source">Los Angeles Times</p> <p>The state Public Utilities Commission on Thursday moved to rescue the state's largest electric utilities from soaring power costs by clearing the way for rate hikes as soon as Jan. 4.</p>

Californians Face Power Rate Rise

December 22, 2000  ·  Consumer Watchdog

<h3>Regulators Say Increase Is Necessary to Keep Utilities Solvent</h3><p class="source">The Washington Post</p> <p>In the strongest sign yet that electric bills will soon rise sharply for millions of Californians, state utility regulators said Thursday customers should pay more to keep the state's largest electric companies from going bankrupt.</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>

Utilities paint a blackout scenario

December 21, 2000  ·  Consumer Watchdog

<p class="source">San Diego Union-Tribune</p> <p>A nightmare before Christmas could be in store for much of Northern and Central California this weekend if the state's two largest utilities resort to rolling blackouts after running out of money.</p>

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>