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...12.7 billion in debts. The utilities say they have been forced to the brink of bankruptcy by skyrocketing wholesale electricity prices and state limits on how much they can charge customers. The governor's order was supported by the California...
...Southern California Edison representatives didn't immediately return calls seeking comment. Skyrocketing wholesale electricity prices, due to high natural gas prices and scarce supplies, have nearly driven the state's two largest utilities...
...no payments since November. SoCal Edison and PG&E say they have lost $13 billion since last year because wholesale electricity prices have soared and the state's 1996 deregulation law prevents the utilities from passing the costs on to ratepayers...
...future power sales. Edison and PG&E say they have lost more than $13 billion since last June to climbing wholesale electricity prices, which the state's 1996 deregulation law prevents them from passing on to ratepayers.
...California is reeling from an energy crisis that includes the nation's highest natural gas costs, high wholesale electricity prices and a tight power supply that has led to rolling blackouts several times this year. Administration officials...
...sellers to rebate any of the extraordinary profits earned before last October in California's market, where wholesale electricity prices began soaring in May 2000. And, according to Kahn, the federal order illegally ties limits on power prices...
...arguing that the charter of the Federal Energy Regulatory Commission requires it to "act to ensure that wholesale electricity prices are just and reasonable." Since the political future of both Davis and Bush could depend on how far California's...
...came a day before federal regulators were to provide a much-anticipated plan for scaling back skyrocketing wholesale electricity prices. Sen. Barbara Boxer, D-Calif., and state Senate leader John Burton on Thursday asked U.S. Attorney...
...Appeals in Washington rejected a bid by SoCal Edison to order the Federal Energy Regulatory Commission to cap wholesale electricity prices. FERC had argued that a cap would not solve the crisis. The three-judge panel said SoCal Edison had not...
...D-Calif., said she would propose legislation to give the U.S. energy secretary authority to cap skyrocketing wholesale electricity prices in 11 western states. It would let the secretary impose a temporary wholesale price cap if there is "unjust...