January 19, 2001 |
The first of the much-anticipated earnings reports from California electricity generators was released late Thursday and the company, Duke Energy, reported sharply higher income and revenue for the fourth quarter and all of 2000. The Charlotte, N.C.-based energy company owns power plants in California that generate 2,950 megawatts, or about 5%, of the state's supply. Duke's earnings, not counting taxes and interest, nearly doubled to $4 billion for the year, while revenue jumped 127% to $49.
February 7, 2001 |
Power plant owner Calpine Corp. said Wednesday that fourth-quarter profit more than tripled, driven by higher electricity prices in California and sales from new U.S. plants. Calpine also said it's considering expanding into Europe in what would be its first move outside North America. The company needs to look overseas to maintain earnings growth, Chief Executive Peter Cartwright said. "We are looking at markets that have characteristics that are similar to the U.S.," Cartwright said.
February 12, 2002
One reason for last year's electricity blackouts was that a number of the state's electric power plants were down at one time for supposed maintenance or repairs. But state officials believe that the plants often were taken off line for phantom repairs to create a false shortage to drive up prices.
April 5, 2006 |
Pacific Gas & Electric Co. said Tuesday that it signed long-term power contracts that would result in construction of four gas-fired power plants in California, resulting in an additional 1,780 megawatts of electricity by 2010. One of the new plants will be owned by PG&E Co. and the rest will be owned by others with contracts to provide power to PG&E, the company said. In all, the plants will cost more than $1.5 billion to build.
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.
CALIFORNIA | LOCAL
January 30, 2001 |
Facing what is fast becoming the worst energy crisis in our state's history, many people wonder whether California's legislators did the right thing when they deregulated our electric utility system in 1996. Some of these very same legislators are now calling for re-regulation and others for a state takeover of California's multibillion-dollar energy infrastructure. These lawmakers aren't just panicking, they're plain wrong.
February 10, 2001 |
With a savvy electricity contract and their own power plants, California's public universities have escaped the power crisis gripping most of the state. Seeking to avoid the perils of the volatile spot market, the University of California and California State University signed long-term electricity contracts with Houston-based Enron Energy Services in 1998. The deals locked them in to a four-year fixed rate of 5% below the 1998 market price for electricity.
May 13, 2001 |
President Bush on Saturday called for a "new kind of conservation" that saves power through tax incentives and energy-efficient technology, signaling a shift in tone as he prepares to unveil his long-range energy policy. Bush's focus on conservation in his weekly radio address follows criticism that he and Vice President Dick Cheney have been drafting a plan that is heavily weighted toward more oil and gas drilling while giving short shrift to other approaches to the energy problem.
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.
CALIFORNIA | LOCAL
November 14, 2001 |
Power plant owners accused of gouging California last winter complained to a Senate committee Tuesday that the state is now slighting them and going to the Pacific Northwest to buy electricity. And the state responded: Tough luck. "There's no 'buy California' rule here," said Oscar Hidalgo, spokesman for the California Department of Water Resources, which has been buying much of the power California uses since January.