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Enron Mail |
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/23/2000 02:02
PM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <Gunther.Pergher@dowjones.com< 08/23/2000 12:26 PM To: "Leopold, Jason" <Jason.Leopold@dowjones.com< cc: (bcc: Carla Hoffman/PDX/ECT) Subject: DJ Calif Assembly Delays SDG&E Rate Roll-Back Vote To Thu 18:43 GMT 23 August 2000 *DJ Calif Assembly Delays SDG&E Rate Roll-Back Vote To Thu Question About Who Will Pay Elec Bills NEW YORK (Dow Jones)--The California State Assembly has postponed until Thursday a vote on restoring electricity rates for customers of San Diego Gas & Electric Co. to pre-deregulation levels, according to a spokesman for Assemblywoman Susan Davis (D-San Diego), who is sponsoring the bill. The bill was sent to the assembly's appropriations committee because some representatives are concerned about who - if not SDG&E customers - will pay for electricity in the city this summer and past spring. The difference between what SDG&E customers would pay under the legislation and what SDG&E is paying for supplies in the skyrocketing electricity markets has been estimated at $1.5 billion. Assembly Passage Of Measure Uncertain The legislation would roll back electricity rates to June 1, 1999, levels for customers of SDG&E, a unit of Sempra Energy (SRE). This spring and summer, the utility's customers have received electricity bills that are nearly triple what they were last year. Electricity rates for the state's other utilities haven't been deregulated yet, so their customers are receiving fixed prices per kilowatt-hour of power used. Prospects for passage of the bill, AB 2290, are unclear in the Assembly. The California State Senate passed the bill unanimously last week. But it would need 54 votes to pass through the 80-member Assembly before Gov. Gray Davis could consider signing it into law. If all 47 Democrats approve the measure, it would need at least seven Republican votes to pass. But, as reported Tuesday, only three Republican lawmakers said they would support the bill. The rollback would provide some economic relief to SDG&E's 1.1 million customers, who have been paying market-based rates for electricity since June. If the rollback is approved, utility bills for residential customers would be about $55 to $60 a month, according to SDG&E. Steve Maviglio, press secretary to Davis, said the governor hasn't decided whether he would sign the bill into law if approved. Monday, the state's Public Utilities Commission rejected a proposal to roll back rates, instead approving a stabilization rate plan that would reduce the cost of electricity to about $68 a month for residential customers who conserve usage. -By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com Copyright © 2000, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. <<Gunther Pergher (E-mail).vcf<< - Gunther Pergher (E-mail).vcf
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