Governor

With the assumption that the governor will sign the bill into law, California’s state Senate Monday unanimously okayed a final bailout for Pacific Gas and Electric Co.’s emergence from Chapter 11 bankruptcy with a law authorizing the utility to refinance part of its debt backed by a retail utility rate revenue stream. The so-called “dedicated rate component” is estimated to lower the overall cost of the PG&E utility’s financial reorganization by about $1 billion.

With 1,000 Louisiana chemical plant jobs lost in 2003 alone, Louisiana Gov. Kathleen Blanco last Monday called on the nation’s governors to press the federal government to form a “coordinated response” to historically high natural gas prices. At the same, top energy lawmakers engaged in a war of words in a Capitol Hill newspaper over the fate of the stalled Senate energy bill.

With 1,000 Louisiana chemical plant jobs lost in 2003 alone, Louisiana Gov. Kathleen Blanco on Monday called on the nation’s governors to press the federal government to form a “coordinated response” to historically high natural gas prices. At the same, top energy lawmakers engaged in a war of words in a Capitol Hill newspaper over the fate of the stalled Senate energy bill.

Texas Railroad Commission (TRC) Chairman Victor Carrillo has called on the state’s governor to help create a Texas Energy Plan, which he said will strengthen not only the economy but its energy industry.

Even as California’s new governor-elect and various stakeholders emphasize more electricity from renewable sources, the initial proposed power procurement plans by two of the state’s major electric utilities last week emphasized new natural gas-fired power plants. And one those plants is the controversial one that Southern California Edison Co. is attempting to develop with an unregulated affiliate owned by its parent, Edison International.

Even though a natural gas pipeline would cut across Canada en route to the Lower 48, Canadian officials should back off while U.S. officials decide whether to offer subsidies on a proposed Alaska pipe, Gov. Frank Murkowski said at a Calgary energy conference last week.

Even though a natural gas pipeline would cut across Canada en route to the Lower 48, Canadian officials should back off while U.S. officials decide whether to offer subsidies on a proposed Alaska pipe, Gov. Frank Murkowski said at a Calgary energy conference this week.

California’s Gov. Gray Davis last week called on his state regulators to lower retail power charges statewide by about $1 billion, recognizing that reserves needed by the state Department of Water Resources (DWR) to pay off $12 billion in electricity revenue bonds have declined.

“Show me the money” continued to be the refrain from California state officials from the governor on down in the wake of the Federal Energy Regulatory Commission’s conclusion that wholesale energy markets were significantly manipulated in 2000-2001. Duke Energy claimed vindication, while companies cited claimed FERC’s evidence was distorted. And there was a concerted groan from all sides who are desperately waiting for the fat lady to sing.