December 23, 1997 |
The nation's third-largest utility said Monday it is paying $6.44 billion to create a giant power company serving 11 Midwestern and Southern states. The announcement came as two other big utility deals were falling apart. The failures, however, will not slow the wave of electric and gas company mergers as more states move to loosen regulations and let customers choose their own power providers, as California is scheduled to do starting Jan. 1. "Ultimately, they're all going to come along.
July 12, 1996 |
Legislation to Restructure Electric Industry Unveiled: Congress gave its first indication that it plans to play a major role in electric utilities' shift from an industry dominated by monopolies toward more open competition. Rep. Dan Schaefer (R-Colo.) unveiled legislation restructuring the industry, calling for consumers to be given the right to buy electricity at the lowest cost available.
CALIFORNIA | LOCAL
July 4, 1989
Your editorial "Making Amends" (June 10) perpetuates misinformation regarding excess deferred tax reserves for utilities. Your readers have been led to believe that $19 billion in excess reserves are still outstanding and that utilities will keep this money for as long as 30 years. The misleading 30-year reference applies only to an average depreciation period for certain items of utility equipment, not to the total outstanding reserve. The fact is, utilities are returning this money now and have been since 1986.
August 28, 2006
Re "Shedding light on all those blackouts," Current, Aug. 20 The point of Steven Erie's Op-Ed article -- power blackouts during the July heat wave demonstrated "chronic neglect" of the state's transmission grid by utilities -- is inaccurate. In 1998, Southern California Edison launched a major infrastructure replacement and expansion program, recognizing that power demands were growing and that many components in our system would soon near the end of their service. With the exception of the energy-crisis period, investments in our lower-voltage distribution system have grown annually, from nearly $700 million in 1999 to more than $1 billion this year.
November 19, 2000
Stephen C. Lee ["Power Supply Timeline," Letters, Nov. 12] argues that government's involvement in deregulation is responsible for current power price spikes and increases. Lee is confused. What the government was responsible for, before the existing deregulation, was producing an environment of stable prices with reasonable profits to utilities. That was known as "regulation." Contrary to Lee's claim that "the voters pass[ed] an initiative to regulate the power industry," that deed was, in fact, accomplished by AB 1890, which was passed by the Legislature in the hurried waning moments before its August 1996 recess.
CALIFORNIA | LOCAL
January 29, 2001
"Part of Utilities' Windfall Went to Dividends, Parent Firms" (Jan. 24) mentions, in passing, that the ratepayer has paid for the construction of most power facilities in the state. This helps to explain why we Californians paid twice the national rate for power. Most ratepayers are unaware that they have subsidized the utilities and, by extension, their shareholders. As these power plants were sold off between 1998 and now, why has no one demanded that the utilities reimburse the ratepayers (us)