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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Jack T. Pearson who wrote (40229)1/7/2001 5:14:10 PM
From: Sherman Chen  Read Replies (1) of 42787
 
California utilities were recently granted permission to enter into long-term contracts again, but it's too little too late. In the meantime, the 10% rate increase which the CPUC just granted will only delay bankruptcy by weeks if not days. Something else is going to have to happen, maybe the state will use some of its budget surplus to bail out the utilities, or will float more bonds and charge ratepayers as a surcharge on their electric bill to help the utilities (same effect as a larger rate increase). In the long run, much more generation has to be built in the area, and California is probably the most difficult place to make that happen for reasons you cited.
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