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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (146798)	5/21/2001 1:10:43 PM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 769670

I think Davis told the generators that hadn't been paid from Nov.2000 to present to "hold their horses, I'll get to you" and they didn't or couldn't live with this. Then he tried to deal with the Utilities separately and they didn't trust him to deal fairly, that he would pit one against the other so PG&E declared bankruptcy for protection. Then he spent billions on power purchases in secret, (possibly against state law) that left a lot of room for criticism. This also relieved the public from any consciousness that they would really be paying higher prices. No one's bill has changed.....yet. Eventually all citizens in CA will pay the bond debt through higher taxes even if they are in areas that generate their own power such as LA and were never part of the problem. The power buying caused the State bond rating to drop, adding millions to the likely cost of the bonds. Utility Co.'s will issue bonds to recoup their losses of late that rate-payers will pay for through higher bills and the largest likely payers will be middle income residents who will pay the higher costs that businesses will pass on. I think Davis first should have pushed for guaranteeing the payments to generators that caused the Utilities to near bankruptcy and then publicly demanded the PUC allow long term contracts. After this he could have called Penn and asked the Governor there what to do.