September 7, 2000 |
The president of Enron Corp. said Wednesday that utilities outside California are not allowing power to move freely into the state, aggravating a shortage that has sent electricity prices soaring in the Golden State this summer. The Internet and computer-based growth in the U.S. economy are pushing power demand far beyond forecasts, Enron chief Jeffrey Skilling told reporters in Washington.
June 30, 1995 |
In a move that anticipates deregulation of the state's utilities, Southern California Edison Co. said Thursday that it will form a unit to run its transmission operation--the network of high-voltage power lines that carry bulk power from generating plants to central distribution points. The move separates all aspects of Edison's transmission system--operation, planning, financial and other functions--from the existing Edison unit that controls power plants.
December 9, 2000 |
It has become one of the most expensive public policy miscalculations in California history: A 1996 state deregulation plan that was supposed to make electricity cheaper instead shifted billions of dollars from utilities and consumers to energy companies and electricity brokers. California businesses and residents paid $10.9 billion more for electricity last summer than the year before, with much of the money flowing to out-of-state energy firms.
April 9, 1992 |
Magma Power--an alternative energy company here that makes a solid profit generating geothermal power in the Imperial Valley--will find out early next month what the future of its industry will be in California. A ruling expected from the state Public Utilities Commission is expected to lay out how much of the future power capacity of the state's investor-owned utilities--Southern California Edison, San Diego Gas & Electric Co. and Pacific Gas & Electric Co.
January 4, 2001 |
The California energy debacle is rapidly growing into a financial crisis that could trigger bank failures, disrupt funds available for lending to businesses and consumers and spark general chaos in global markets for corporate bonds, financial experts fear. Such fears may well have been a factor in prompting the Federal Reserve to dramatically lower interest rates Wednesday, analysts suggested.
February 13, 2001 |
State efforts to take ownership of California's power grid could face yet another hurdle: competition. Washington-based Trans-Elect said Monday that it had offered to buy the grid from the state's major utilities for $5.25 billion. The company, which seeks to create a national network of independently owned transmission grids, is already negotiating to buy grids from five utilities outside California, said Vice President Bob Mitchell.
June 15, 1989 |
For about two months now, Pacific Bell has offered voice mail, an electronic telephone-answering service, to its customers in San Pedro and in the Silicon Valley community of Milpitas. But already a competing voice-mail company, Amvox Inc., has accused Pacific Bell of "anti-competitive behavior" through its monopoly hold on local telephone service. Amvox pointed out in a complaint filed last month with the California Public Utilities Commission that Pacific Bell encourages customers interested in the new service to call a toll-free, seven-digit number for information.
January 26, 2001 |
Former Southern California Edison President Michael R. Peevey knows the rosy side of deregulation. He made millions of dollars by starting an energy service company and selling it to one of the nation's largest power generators in mid-1999. "It turned out well," Peevey acknowledged with a laugh. "I'm still an advocate of deregulation," he said Thursday. "But no doubt the California thing is flawed."
CALIFORNIA | LOCAL
January 24, 2001 |
State officials on Tuesday dimmed the hopes of some local governments for help in paying bills related to California's power crisis. The city of Huntington Beach--which faces stiff bills--declared a local state of emergency Monday night, hoping in part to set the stage for a state bailout. And other jurisdictions in Northern California are tracking added expenses from beefing up police patrols in blackout areas, in case they can pass the bills on to state or federal officials.
July 10, 1998 |
California's new competitive market for electricity marked its 100th day of operation Thursday with a bit of a jolt: shockingly expensive energy. An unidentified electricity generator--officials won't say who--was able to bid $5,000 a megawatt Wednesday to supply power if needed during demand surges on Thursday in Southern California.