To: Smart_Money who wrote (45830 ) 1/18/2001 9:12:25 PM From: gamesmistress Read Replies (1) | Respond to Bankruptcy for PGE and SoCal Edison is looking more and more likely by the hour. The only way I can see to avoid it is if the Bush administration comes up with a last minute plan. I think Gov. Davis would rather let the bankruptcy judge raise the rates, as he/she undoubtedly would, rather than admit the politically unpalatable truth that EVERYONE has to share in the costs. The other participants in this fiasco also are disconnected from reality, as indicated by these quotes:Energy Secretary Bill Richardson, meanwhile, warned electricity and gas producers on his next to last full day in office that he would take them to court if they refuse to sell to the state's embattled utilities. Richardson leaves office on Jan 20 when the Republican administration President-elect George W. Bush takes office. (next to last day of work, huh...now THERE'S a meaningful threat. And the producers aren't willing to sell to a customer that can't pay. DUH.)With spot market prices continuing to rise, the head of the California Public Utilities Commission on Thursday blamed the energy crisis on "price actions by merchant generators, not a lack of supplies."
