California: PG&E challenge may slow Calif. power bonds
SAN FRANCISCO, May 29 (Reuters) - Pacific Gas & Electric Co. (NYSE:PCG - News) has challenged an order by state regulators needed for California to launch an $11.1 billion bond issue to help recoup the cost of the state's emergency power purchases last year.
The challenge, made late on Tuesday by the PG&E Corp. subsidiary, California's biggest utility, could delay the bond issue, one of the largest municipal bond sales ever, credit analysts said.
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See the Link above for more.
Davis and the Legislature are now really in a jam -- I think!!