California Assembly puts off vote on SCE rescue bill

LOS ANGELES, Sept 5, 2001 – The California Assembly will not vote on Wednesday on a bill to save utility Southern California Edison from bankruptcy, a spokesman for Assembly Speaker Robert Hertzberg said.

The bill was unlikely to be voted upon until its backers believe it will get enough votes to pass, according to a Reuters News Service report.

The bill would let SoCal Edison recover about $2.9 billion of the estimated $3.9 billion in debt it racked up buying power for its customers at elevated prices last year, but the utility would still have to eat about $1 billion of the costs under the current version.

The bill has been cleared by two assembly committees and must pass the assembly floor vote to move on to the Senate.

Author

  • The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

Previous articleDOE selects Honeywell team to develop energy-saving packaged system for building cooling, heating, and power
Next articleLay says asset sales to help boost Enron stock price
The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

No posts to display