Costs hit home for energy crisis -- Californians have to pay billions more to bail out utilities

SFgate.com (San Franscisco Chronicle) ^ | November 8, 2002 | Christian Berthelsen, Chronicle Staff Writer

[LurkedLongEnough]

In a pair of decisions Thursday, state regulators voted to shift as much as $6 billion in costs onto consumers over the next year to help pay for the continued fallout from California's energy crisis.

The resulting cost to the average customer of California's two biggest utilities -- Pacific Gas & Electric Co. and Southern California Edison -- will be at least $270 in 2003, according to estimates Thursday.

[LurkedLongEnough]

Work health care affordability into the story and you've got a winner! And then claim you're "not responsible"... I don't know how these writers can write these stories with a straight face.

[chance33_98]

Add to that info i posted the other day about the ballot measures that passed - over $13 Billion worth just in a statewide one on schools, and the people of CA are in deep.

Bookmarked for further analysis, thanks for the post!

[HamiltonJay]

In a pair of decisions Thursday, state regulators voted to shift as much as $6 billion in costs onto consumers over the next year to help pay for the continued fallout from California's energy crisis.

Just after the election... how convienent.... BAFOONS... 4 more years of Davis... hahahahahahahahhahahahahaha

[chance33_98]

Voters Support Education and Programs for Children - $13 Billion forgot the link :)

[sr4402]

Just after the election... how convienent.... BAFOONS... 4 more years of Davis... hahahahahahahahhahahahahaha

Why was this brought out just after the election? Smells like someone sat on this news for political reasons. This would have been a hot issue and Davis would have been fried by the voters. Guess the golden state has more lessons to learn. The polititans will have all the gold and the people none.

[Ernest_at_the_Beach]

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[chiefqc]

What a hoot, Davis just scre*ed all those voters who elected him again.

Voters of Calif. even the lowest forms of life learn from their mistakes. You voters must have missed this page.

[afraidfortherepublic]

Stupid is as stupid does. California voters are just plain stupid (and greedy, and immoral).

Ye reap what ye sow.

Califronia voters ask for all kinds of free programs and protect the right to abortions for all and elect a Governor to provide those things, and then the bill comes due. Surprise, surprise!

[Dog Gone]

Get out the vaseline. This is just the start of more "surprises" for Californians.

[Ernest_at_the_Beach]

I am going to the store shortly and stocking up on vaseline and other items.

[Robert357]

As much as you think the Vaseline is for you, read the following from the article closely.

"We need to provide the utilities with sufficient revenue to return them to financial health and enable them to continue serving their customers," commission President Loretta Lynch said during the hearing. "This is an unfortunate but necessary step."

The Democrats in power in California have been handed the Vaseline by Wall Street for use by themselves as they take their medicine. Note in particular the last sentence. The PUC is not happy, but they have pledged their soul to Wall Street for the bonds. Now it is time for them to act in a business like manner. That must really drive them nuts.

What will be interesting to watch is how their fellow democratic voters react to these folks no longer being able to play games.

[snopercod]

Notice how the article didn't even mention the University of California System, which had one of the biggest direct access contracts in the state?

The students and teachers of California just got screwed out of a few hundred million $...

[Dog Gone]

Oh, everyone in California is going to need Vaseline, and the luckiest man on the planet may be Bill Simon. The next Governor of California, which just happens to be Gray Davis, is going to become the most reviled governor in state history.

[Gophack]

Californians already pay extra on their bills because of surcharges imposed during the state's energy crisis in 2001. The extra charges -- totaling $22.50 per month for the average household -- were to have been eliminated when they were no longer necessary. Now, as a result of Thursday's rulings, consumers will continue to pay them for the foreseeable future.

Thank you Gray Davis ... what's next, repealing Prop. 13 so you can tax people out of their homes?

[Gophack]

The next Governor of California, which just happens to be Gray Davis, is going to become the most reviled governor in state history.

He already is ;-0

[Grampa Dave]

This is to pay back the free lunch we got during our electricity blackouts during late 2000 and 2001.

PG&E paid close to $400 each month for the electricity that I used as a customer. Thanks to the screwed up laws that the rats pushed through for Petey Wilson to sign before his wife became a member of Arco's board. PG&E could only charge me about $200/month for the electricity that I used inspite of paying close to $400/month for the electricity. Phoney conservatives and of course the free lunch socialists, communists and free loaders loved it.

The state payed the difference and our debt bill shot up but Davis got re elected. Of course no rats in Sacramento or the fishwraps owned up to this indebtedness for our temporary free lunch for the electricity we used.

These bonds will be used to pay back the state for our used electricity actually went on the market on 4 November. There were ads in the business sections of the fishwraps advertising the bonds that week starting on at least the 4th if not the 1st. Of course no major fishwrap or ABCNNBCBS published a story about this until after the election.

No parks, schools, roads or anything of value will be paid off by these Used Electricity Bonds. They will be used to pay the state back which paid for our free lunches on our electric bills in 2001!

Socialism, Communism and other isms are alive very well in Kaliforniacator.

This is not new news. Many of us saw this comming last year.