CALIFORNIA | LOCAL
April 16, 2002 |
SACRAMENTO -- Atty. Gen. Bill Lockyer sued two electricity companies Monday, alleging that they exert illegal control of California's electricity market and should be forced to sell power plants. Lockyer sued Reliant Energy of Houston and Mirant Corp. of Atlanta in federal court in San Francisco. He accuses the companies of violating federal antitrust laws, stifling competition and illegally driving up prices.
September 14, 2005 |
Duke Energy Corp. said Tuesday that it would close power plants in California as part of a plan to shut its money-losing wholesale power and trading business. The company, based in Charlotte, N.C., said it would be unable to turn a profit in its Duke Energy North America subsidiary without risking more money in trading and marketing.
July 24, 1990 |
Fluor Daniel, the engineering and construction arm of Fluor Corp., said Monday that it has been awarded a contract with an estimated value of $300 million to build a combined gas- and steam-fired power plant in Virginia. Under the contract from Doswell L.P., a subsidiary of Los Angeles-based Diamond Energy Inc., Fluor would build a 663-megawatt power plant in Hanover County, Va.
August 4, 2005 |
Power plant owner Calpine Corp. said Wednesday that its second-quarter net loss widened more than tenfold to $298.5 million, citing reduced generation as well as costs related to canceled service contracts and suspended plant construction. The company, based in San Jose, said its net loss widened to 66 cents a share, from $28.7 million, or 7 cents, in the second quarter of 2004. Sales rose to $2.23 billion from $2.22 billion. Calpine shares fell 56 cents to $3.
April 1, 1986 |
Ultrasystems Inc. of Irvine has signed four joint-venture agreements with Combustion Engineering Inc. of Stamford, Conn., to develop, construct, own and operate two waste wood-fired power plants and two cogeneration power plants in California. Ultrasystems, the primary contractor for the four plants, also is negotiating with several other firms to sell most of its 50% interest in the projects in order to lessen risks and reduce its cash investment, Philip J.
May 20, 2006 |
Besieged by creditors and crippled by the sagging wholesale power market, Calpine Corp. lost almost $10 billion in 2005 as it filed for U.S. Bankruptcy Court protection, the company said Friday. The San Jose company's loss included $4.5 billion in noncash write-offs for plants and projects that have plummeted in value, as well as $5 billion in reorganization and bankruptcy costs, according to the 2005 financial report filed with the Securities and Exchange Commission. Calpine, which on Dec.
January 30, 2002 |
Williams Cos., a major natural gas production and pipeline company that has often been compared to Enron Corp., suffered from the "Enron effect" Tuesday as its stock fell 22% after it announced a delay in the release of fourth-quarter and year-end earnings. The delay will allow Williams executives to assess financial obligations related to the spinoff of its Williams Communications Group fiber-optic network operation in April.
May 3, 2001 |
Lt. Gov. Cruz Bustamante sued five big power generators Wednesday in a bid to recover billions in taxpayer money. Filed in Los Angeles County Superior Court, the lawsuit accuses the power producers and 14 of their executives of engaging in a price-fixing conspiracy that has drained California's treasury. The companies are Duke Energy, Mirant Inc., Reliant Energy, Williams Energy Services and Dynegy Inc.
January 16, 2001 |
Consumer groups said Monday that Pacific Gas & Electric Corp.'s restructuring should make lawmakers and Gov. Gray Davis think twice before considering a bailout for troubled utilities. The Federal Energy Regulatory Commission gave permission Friday for PG&E to change its corporate structure, effectively insulating the bulk of its assets from the credit problems of its utility. In response, PG&E created the National Energy Group, the business arm of PG&E Corp.