With lack of progress in the FERC settlement talks, state legislative negotiations and among state regulators, all holding the hope for some financial relief, Southern California Edison Co. officials indicated Tuesday that they will continue to resist bankruptcy if state and federally-generated relief falls short, but they will be in a “very difficult” predicament unless some solution comes out of the state legislature by mid-August.
Progress
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California Hammers Out a Deal with QFs
California officials last week announced a deal with its small qualifying facility (QF) generators and progress in creating what its governor is calling a “pincer movement” between Sacramento and Washington, D.C., to force lower wholesale prices. Gray Davis was ebullient in claiming a “day of accounting” is coming for merchant generators in which they either take heavy discounts on monies owed them, or substantial decreases (federal price caps) in power prices going forward.
California Hammers Out a Deal with QFs
California officials Wednesday announced a deal with its small qualifying facility (QF) generators and progress in creating what its governor is calling a “pincer movement” between Sacramento and Washington, D.C., to force lower wholesale prices. Gray Davis was ebullient in claiming a “day of accounting” is coming for merchant generators in which they either take heavy discounts on monies owed them, or substantial decreases (federal price caps) in power prices going forward.
SoCal Ed: Little Progress Toward Buyout
In the absence of any definitive regulatory or legislative moves as yet to implement a three-week-old memorandum of understanding (MOU) with the governor, Southern California Edison officials Tuesday acknowledged that creditors and other parts of the financial community are afraid the utility will join the state’s other major investor-owned utility, Pacific Gas and Electric, in bankruptcy court.
CA Power Saga: New Chapters, But No Ending
California’s ever-changing electricity saga ended the firstquarter of 2001 as it started the year – a work in progress. Itsscope widened again last week with regulators, legislators and thecourts working overtime to keep up. Supplies remained tight withthree Stage Two power alerts called during the week.
No Quick Answers in California
There appeared to be nothing in the way of concrete progress towardresolving the California energy crisis, as much-talked about long termpower contracts have failed to materialize, and negotiations areapparently just beginning on the plan of state politicos to buy outthe power lines of the state’s investor-owned utilities (see DailyGPI, Feb. 20)
CA Leaders Making Progress on Crisis: Sempra’s CEO Says
Even though “bailout” has become a dirty word as Californiagovernment leaders in Sacramento hammer out more comprehensiveresponses to the state’s electricity woes, San Diego-based SempraEnergy’s CEO Stephen Baum says there is a light at the end of thetunnel.
Plans Progress on Supply Procurement Site
A consortium of 21 energy and utility companies have formed anew company, Pantellos Corp., to operate an e-procurement web siteannounced earlier this year, and hired a tech company to developit.
GISB Progress Surfs Internet’s Tidal Growth
Since mid-1995, exponential growth of the Internet has broughtthe number of pages on the World Wide Web from about seven millionto approximately 800 million by mid-1999, according to a statisticcited by Gas Industry Standards Board (GISB) Executive Director RaeMcQuade.
GISB Progress Surfs Internet’s Tidal Growth
Since mid-1995, exponential growth of the Internet has broughtthe number of pages on the World Wide Web from about seven millionto approximately 800 million by mid-1999, according to a statisticcited by Gas Industry Standards Board (GISB) Executive Director RaeMcQuade.