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Date: Fri, 16 Mar 2001 09:10:30 -0600 From: "Tracey Bradley" <tbradley@bracepatt.com< To: "Paul Fox" <pfox@bracepatt.com< Cc: "Alfredo Perez" <aperez@bracepatt.com<, "Andrea Settanni" <asettanni@bracepatt.com<, "Charles Ingebretson" <cingebretson@bracepatt.com<, "Charles Shoneman" <cshoneman@bracepatt.com<, "Deanna King" <dking@bracepatt.com<, "Jeffrey Watkiss" <dwatkiss@bracepatt.com<, "Gene Godley" <ggodley@bracepatt.com<, "Kimberly Curry" <kcurry@bracepatt.com<, "Mark Evans" <mevans@bracepatt.com<, "Michael Pate" <mpate@bracepatt.com<, "Ronald Carroll" <rcarroll@bracepatt.com< Subject: Potential Bankruptcy Petition Against SCE Mime-Version: 1.0 Content-Type: text/plain; charset=US-ASCII Content-Disposition: inline Generator to sign bankruptcy filing Report says Coram to sign petition against SoCalEd By Myra P. Saefong, CBS.MarketWatch.com Last Update: 6:43 PM ET Mar 15, 2001 TEHACHAPI, Calif. (CBS.MW) -- Independent electricity generator Coram Energy Group said it will sign a bankruptcy petition Thursday against Southern California Edison, according to a published report. The petition is being circulated among five other "qualifying facilities," also known as small generating plants, Coram owner Brian O'Sullivan told Dow Jones Newswires. O'Sullivan said his company is running out of cash and will have to shut down operations in about a month, according to the report. Coram Energy, which was one of several renewable power generators that formed a creditors' committee in February, produces wind energy at three locations in Tehachapi, Calif. The petition could be filed in a Los Angeles bankruptcy court as early as next week, the report said. The move could prompt the start of involuntary bankruptcy proceedings against the utility owned by Edison International (EIX: news, msgs, alerts) . The report also said FPL Group (FPL: news, msgs, alerts) , owner of several qualifying facilities in SoCal Edison's area, may also join the group. Southern California Edison and another of California's big utilities, Pacific Gas & Electric (PCG: news, msgs, alerts) , have combined debts of more than $13 billion. Both suffer from having to pay high wholesale power prices to supply electricity to their customers who pay retail rates capped by state regulators below actual costs. Myra P. Saefong is a reporter for CBS.MarketWatch.com in San Francisco.
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