Bail Out Could Come at a Price
Pacific Gas & Electric and Southern California Edison may receive a financial bail out from the California government, but it would come at the cost of partial ownership of their companies.
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California Governor Gray Davis says that he is committed to stabilizing the situation for the utilities, but in exchange, he believes Californians must receive a substantial ownership interest in the utility companies.
Governor Davis has named three individuals to negotiate with the investor-owned utilities to set terms and conditions of a public interest in the utilities. The individuals are former NewEnergy President Michael R. Peevey; Michael Kahn, senior partner/head of litigation department for Folger, Levin & Kahn LLP and member of the board for the California ISO; and Michael Kramer, partner with Greenhill & Company of New York.
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© 2012 Penton Media Inc.
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