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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (552)6/15/2001 5:51:06 PM
From: Hawkmoon  Read Replies (2) | Respond to of 1715
 
This has always been part of the master plan.

Ok... so what you're saying is that utilities wanted to divest themselves of parts of their business that have been rendered unprofitable by union wages, government price rate caps on delivered power, and high maintenance/repair costs that they were unable to pass on to their customers??

And on top of that, they have been able to "convince" California to now make all of those linemen government employees, and assume total responsibility for the distribution grid which their regulatory policies and price caps rendered so unprofitable??

So now the governmental regulatory agencies who caused such a state of unprofitability are now the owners of that problem??

Did I miss anything?

Hawk



To: Raymond Duray who wrote (552)6/15/2001 7:03:59 PM
From: DavesM  Respond to of 1715
 
Ray,

I haven't checked the quarterly statement of PG&E's parent, but I bet even they would have a very difficult time swallowing a debt of 4 to 6 Billion (or whatever the number is - even if you figure in their merchant division).


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