Consumers to shoulder burden of PG&E bankruptcy : NEWS ANALYSIS

A year ago, when a struggling Pacific Gas and Electric Co. broke off bailout talks with the state of California and filed the third-largest bankruptcy in U.S. history, the big question was: Which avenue would be better for the utility -- cooperating with regulators, or fighting them?

Well I guess Business's get to use the electricity for free!

That should generate a bonanza of companies moving to California for the free electricity. --- Not likely!

This piece was likely influenzed by TURN if not written by them.

Is this effing news? Its the only way that A) Californians can keep the lights on and B) PG&E can stay in business in order to provide power. This reminds of the cheering crowds that hailed that fraud Erin Brockovich for winning her tort suit when the settlement money came from the consumer's pockets.

But it appears that at least one outcome will be the same, regardless: The company's customers will be the ones paying off the crushing debts stemming from California's power crisis of 2000.

A lot more than the the company's customers will be paying for Davis' excesses. Ultimately the state treasury will also pay for his excesses.

There is republican (little r) justice in this proceedure. California elected Davis and should be responsible for his actions.

What obvious irritates those of us who didn't is that we're also screwed in the process. Some of us are screwed twice because we live in the part of the state that must pay the higher consumer rates and the increase in state taxes to support Davis' "bond" solution.

Typical SF Comical article - full of misstatements, half truths, and outright lies. I guess there must be plenty of fish to wrap out there...

...when a struggling Pacific Gas and Electric Co. broke off bailout talks with the state of California

Uh, excuse me, but PG&E filed for bankrupcy the day after Davis gave his little speech in Escondido, CA. He was down there for a fundraiser at a donor's house in La Jolla, of course. Always thinking of the "little people", eh?

PG&E's decision to file for bankruptcy followed a rare statewide address by Davis that was broadcast live on most television and radio stations Thursday evening. The governor proposed smaller rate increases than those adopted by the California Public Utilities Commission last week and pledged to use some of the money from the rate increase to help utilities' pay their debts.
In return, Davis demanded that the companies sell the state their highly valued power transmission lines, provide power from their own generating plants at low cost to California for a decade, and drop lawsuits seeking even higher rate increases to cover their recent losses under the state's energy deregulation rules.
Glynn said that PG&E decided to seek bankruptcy after hearing the governor's latest plan...

......... smaller rate increases ,,,,,,,,,, pledged to use some of the money from the rate increase to help utilities' pay their debts. ........ Davis demanded that the companies sell the state their highly valued power transmission lines, provide power from their own generating plants at low cost to California for a decade, and drop lawsuits seeking even higher rate increases to cover their recent losses under the state's energy deregulation rules.

Oh yeah, I'm sure that went over well the utilities. What do you mean, none of it ever happened? I've been reading for years about how smart Davis is!

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