Gov. Davis asks $1 billion to stabilize California electricity market

While Davis did not outline specifics of a rescue package for the state’s ailing investor-owned utilities, he proposed to set aside $1 billion to “help stabilize the supply and price of electricity in the present and help provide new power generation to meet the demands of the future.”

Jan. 8, 2001–In an order that appears to set up a conflict with the Federal Energy Regulatory Commission, U.S. Energy Sec. Bill Richardson Friday lowered the price cap on wholesale electricity sold in California, and ordered the state to cut peak demand 5%, under extension of an order that requires generators and marketers to make power available in California.

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