Control returns to PG&E : Chapter 11 appears a smart gamble for the utility--

The Contra Costa Times ^ | Sat, Apr. 06, 2002 | Rick Jurgens CONTRA COSTA TIMES

[Ernest_at_the_Beach]

Exactly one year ago, PG&E turned its back on negotiations for a government bailout of its financially troubled electricity and natural gas distribution businesses and, in a direct rebuff to Gov. Gray Davis, instead chose bankruptcy.

Filing for Chapter 11 at first seemed a huge setback to shareholders, creditors and managers of PG&E, a venerable Northern California corporation that traces its roots back to the Gold Rush.

[Ernest_at_the_Beach]

I don't think this came out of the Governors Press Release Operations Staff!

[Ernest_at_the_Beach]

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[VA Advogado]

Rick forgot to include the best part of the plan - it screwed Gray Davis and will cost him his job!

[Ernest_at_the_Beach]

Let's hope that it does put Davis out of a job!

This seems to be a pretty good article!

[Grampa Dave]

My hat is off to the management of PG&E. I applaud them for standing up to the Fascist Dictator Herr Davis, as he tried for the state to own and control all power producers and transmission of power in Kali.

My 2002 utilities costs are manageable, and they have done a great job inspite of the fascists, the socialists, communists, and even confused so called conservatives who tried to destroy them and Kalifornians.

Notice this article did not come from the SF Gayrhonicle nor does it appear to be a Fascist Davis Press release posing as an article.

[RGSpincich]

Yeah the article came from the one and only Contra Costa Times. Supported Bush for President, too. They do suffer spats of liberalism at times, though.

[Amerigomag]

Regulators' trump card is the threat of a prolonged legal challenge

This is the heart of the "liberal dream" in this article.

Those challenges directly or indirectly depend on executive branch support (Davis' reelection).

[Grampa Dave]

My son lives and works in Eastern CC county. He says this newspaper, one day is conservative and the next day reminds him of the SF Gayrhonicle. On those days, he just reads the sports and comics and trashes the rest.

[irishjuggler]

I've been kicking myself for months for not loading up on PCG stock when it was in the $7 range a year ago.

[Amerigomag]

5 cents a kilowatt hour -- double the estimated regulated rate, according to opponents

A little side light. Just dug out my old PG&E bills from 1990.

In September 1990 (long before deregulation) my "regulated" base rate was about 8¢/kwh and last month it was only a little over 4¢/kwh.

[Amerigomag]

make that rate last month @ 5.3¢/kwh

[Ernest_at_the_Beach]

LOL!

I think I pay SCE about 12 cents per KWH!

But it is tough to figure, they keep playing with the baseline.

[zog]

--pretty cheap! Wonder why all the complaints, this is a fair price nationally.

[Free the USA]

bttt