Energy

Bankruptcy v. Bailout

December 18, 2000  ·  Consumer Watchdog

<!-- excerpt --><p>California's largest utility company, Southern California Edison, has thrown down the gauntlet to Governor Gray Davis: force the ratepayers to bail us out or we'll declare bankruptcy.</p>

STATE CRITICAL AS U.S. TRIES TO KEEP POWER ON

December 16, 2000  ·  Consumer Watchdog

<h3>THE ENERGY REGULATORY PANEL ACTS TO CALM THE MARKET. OFFICIALS SAY THE EFFORT IS TOO TIMID TO WORK.</h3><p class="source">Los Angeles Times</p> <p>Calling deregulation of California's electric power industry a worthy effort that has unfolded disastrously, the Federal Energy Regulatory Commission on Friday launched a multipronged effort to calm a crazed electricity market and keep the lights on acros</p>

Government Acts to Calm California’s Energy Market

December 16, 2000  ·  Consumer Watchdog

<p class="source">The New York Times</p> <p>The Federal Energy Regulatory Commission took action today to protect Californians against the recent volatility in the wholesale electricity market that has brought soaring power prices, threats of blackouts and perils of insolvency for the state's large</p>

Debate begins over who will pay PG&E’s $4.6 billion power bill

December 16, 2000  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>WALNUT CREEK, Calif._There's an unpaid electricity bill of $4.6 billion in Pacific Gas & Electric's San Francisco headquarters. Now the debate begins on who is going to pay it.</p>

Davis disappointed after feds fail to curb skyrocketing power prices

December 16, 2000  ·  Consumer Watchdog

<p class="source">Contra Costa Times</p> <p>WALNUT CREEK, Calif._Californians who were hoping to be awakened from an electricity deregulation nightmare were sorely disappointed on Friday when a key federal commission adopted a slate of market reforms that stopped short of offering direct relief for</p>

Utility woes put Davis in hot seat

December 15, 2000  ·  Harvey Rosenfield

<h3>Governor says power to end crisis is limited</h3><p class="source">Sacramento Bee</p> <p>Consumer advocate Harvey Rosenfield makes his living holding corporate and government feet to the fire, but even he is feeling a little sorry for Gov. Gray Davis these days.</p>

NIGHTLY BUSINESS REPORT

December 15, 2000  ·  Consumer Watchdog

<p class="source">NIGHTLY BUSINESS REPORT</p> <p>YASTINE: Well, Paul, federal energy regulators OK'd new rules to prevent power shortages in California as that state deals with sharp spikes in electricity prices. California was once considered a model for utility deregulation, but as Pat Anson repor</p>

POWER SHORTAGE IN CALIFORNIA

December 14, 2000  ·  Consumer Watchdog

<p class="source">CBS EVENING NEWS</p> <p>DAN RATHER, anchor: More stormy weather coming in the Pacific Northwest could make it harder to keep the lights on in California. California is already struggling to beg, borrow or buy power from neighboring grids. CBS' Sandra Hughes has been digging in</p>

California regulators, utilities look to feds to ease woes

December 14, 2000  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>A federal regulator is promising strong action to ease California's electricity woes after the state's second brush with blackouts in a week.</p>

California power companies on brink of bankruptcy

December 14, 2000  ·  Consumer Watchdog

<p class="source">San Jose Mercury News</p> <p>SAN JOSE, Calif._Wednesday's fast-emerging concern about the financial health of the state's major utility firms is prompting an alarming possibility: that taxpayers will get stuck paying the companies' multi-billion-dollar debts.</p>

Wholesale electric prices soar anew

December 13, 2000  ·  Consumer Watchdog

<p class="source">Sacramento Bee</p> <p>With wholesale prices again soaring on California's biggest power-trading market, grid operators called the year's 30th "stage two" electric emergency Tuesday.</p>

Spiraling prices roil utility market as supplies remain pinched

December 13, 2000  ·  Consumer Watchdog

<p class="source">The Associated Press</p> <p>With wholesale electricity prices roaring upward, Wall Street is worried about utilities' economic health and a consumer group has urged the state immediately to seize and run the strapped $20 billion electricity system.</p>