SoCal defaults on payment to California Power Exchange

The default by Southern California Edison (SCE) prompted credit rating agency Standard & Poor௿½s to downgrade the California PX short-term credit rating to ௿½C௿½ from ௿½A-3௿½. The rating remains on CreditWatch with negative implications. S&P says the rating reflects the exchange௿½s reduced ability to make timely payments to the California Independent System Operator which has also been downgraded.

WASHINGTON, DC, Jan. 18, 2001–Democratic Sen. Dianne Feinstein of California said during hearings Thursday she will introduce legislation which would give the federal government power to set wholesale electricity rates in western states when prices are determined to be “unjust and unreasonable.”

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  • 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.

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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.

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