What Gov. Must Say in His Five Minutes
Gov. Davis has to keep his promise to the public not to raise their utility bills and offer a definitive solution to the deregulation disaster in his five-minute speech tonight, consumer advocates said today. The Governor will address the state at 6:05 pm PST (April 5, 2001) on all major news channels.
FTCR said the Governor would have to:
- Guarantee no bailout of the utility companies’ errors and no overpayment for the purchase of transmission lines or other utility assets.
- Ensure that the residential and small business ratepayers, who were promised a 20% rate reduction under deregulation and have already paid $20 billion in deregulation surcharges, experience no new rate increases and that the 9% rate increase in January be reversed.
- Issue a comprehensive plan to regain control of our electricity system from the wholesale energy companies that, under deregulation, have manipulated electricity supply and prices to reap windfall profits and bring the state’s economy to its knees. This plan must include a windfall profits tax and/or seizure of the plants themselves under eminent domain.
- Pledge to sign legislation implementing a public power system that would utilize the latest conservation and renewable technologies to provide affordable power without profit.
“With his dithering and broken promises, the Governor’s credibility and competence are at stake now, and we wonder how much of that can be repaired in the five minutes he has requested for his live speech to Californians,” said Harvey Rosenfield of FTCR.