Moody’s withdraws California PX’s short-term issuer rating of not prime

The rating action reflects the CalPX’s recent announcement that it was winding down its business and would be terminating operations by no later than April 2001. CalPX’s decision to terminate its operations follows the December 15, 2000 ruling by the Federal Energy Regulatory Commission, which called for an immediate end to the purchase requirement by the three California investor owned utilities and terminates the CalPX’s tariff on April 1, 2001.

Jan. 30, 2001—Under a threat of near continuous blackouts, California’s San Jose Silicon Valley Chamber of Commerce agreed more power plants are needed and specifically endorsed the controversial 600 MW Metcalf power plant project in San Jose.

Previous articleDynegyconnect announces network services agreement with Level 3
Next articleAudit: Southern California Edison transferred billions to parent

No posts to display