CA: State ditched deal, power firm says

Sac Bee ^ | 12/14/02 | Carrie Peyton Dahlberg

[NormsRevenge]

Officials strongly deny rejecting a tentative pact to lower costs of an expensive long-term contract.

One of California's biggest electricity suppliers blasted the state Friday for walking away from a tentative deal to reduce the cost of its long-term contract.

[NormsRevenge]

Ping.

[Pushi]

Then, hold them to the original price. That will show them. And, sue them if they default.

[Ernest_at_the_Beach]

Thanks for the ping!

This should get interesting!

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[Robert357]

Let's see if I understand this correctly......

Both the PUC and the Governor's Office denied that version of events, saying there had never been an agreement on a renegotiated contract, and everyone on the state team had uniformly agreed Sempra's last offer was not rich enough.

Sempra has a legal contract that is advantageous to Sempra. California tries to renegotiate and concludes that Sempra's offer was not "rich enough." Therefore, the state walks away and back into the costly deal the state happily accepted earlier. Obviously, the state negoitating team didn't hold their breath until they turned blue long enough!

Absolutely incredible.

[lewislynn]

Absolutely incredible.

Nothing incredible about it when you understand negotiating and you don't overestimate your position in it.