Small power generators may force Edison bankruptcy next week : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

LOS ANGELES (AP) -- Small power generators threatened
to force Southern California Edison into bankruptcy
next week if they are not paid the millions owed by
the state's second-largest utility.


-- spider (, March 21, 2001


This is exactly what SCE, PG&E, SDG&E are hoping for. They are already bankrupt. The longer they can prevent the bankruptcy, the more power recieved they will never have to pay for, or pay for in bankrupcy at some reduced rate. Can you say $1.01 for every dollar they owe?

This will not pay the gas bills of their small QF's who will also go out of business. The utilities have been mandated buy government to buy this QF power, which they don't want, for years. It costs them up to 14 times more per MWH than power from large gas, oil, coal, or nuke plants

If the utilities file without being forced, there would be too much public outcry. This is a win-win situation for these utilities.

Watch the stock of EIX and PCG when the bankrupcy happens. That may be the time to buy.

-- PHO (, March 21, 2001.

Uh, that should be $0.01 for every $1 they owe.

-- PHO (, March 21, 2001.

OTOH, being forced into involuntary bankruptcy would put Edison in a weaker legal position than if they filed for voluntary bankruptcy.

-- Barb Knox (, March 21, 2001.

Moderation questions? read the FAQ