OUCH! California Power Lies

- The direction California's 1996 electricity deregulation law was supposed to make consumers' costs go: Down.

- Expected hike in residential electricity bills because of a temporary emergency rate increase approved by California's Public Utilities Commission on January 4: 9 percent.

- Number of times that the State of California has imposed rolling blackouts in January because electricity demand exceeded supply: 2.

- After-tax profits since last May of California's seven out-of-state power producers and marketers, which have hiked energy prices on the wholesale market: More than $4.7 billion.

- Amount Southern California Edison, Pacific Gas & Electric, and other California utilities have received since deregulation from California ratepayers to pay off their "stranded assets"˜debts acquired from bad investments, largely in nuclear power plants: $20 billion.

- Amount that Southern California Edison and Pacific Gas & Electric, the state's two largest utilities say they are in the red, because they can't afford the high cost of wholesale energy: $12 billion.

- Amount Southern California Edison and PG&E's, parent and affiliated companies have spent on power plants, stock buybacks, and other purchases recently, despite complaints of near-bankruptcy: $22 billion.

- Amount of campaign contributions distributed by PG&E and Southern California Edison in California races during the 2000 elections: $3.5 million.

- Amount PG&E gave to Assembly Speaker Bob Hertzberg (D-Sherman Oaks): $49,000.

- Amount that consumers would pay in surcharges to bail out the two utilities under a proposal by Hertzberg: up to $12 billion.

- Hertzberg's position on campaign finance initiative, Proposition 34, on the 2000 California ballot, criticized as a sham by reform groups: In favor.

For more information (and for detailed sourcing on these statistics) go to www.publicampaign.org.


Understand the importance of honest news ?

So do we.

The past year has been the most arduous of our lives. The Covid-19 pandemic continues to be catastrophic not only to our health - mental and physical - but also to the stability of millions of people. For all of us independent news organizations, it’s no exception.

We’ve covered everything thrown at us this past year and will continue to do so with your support. We’ve always understood the importance of calling out corruption, regardless of political affiliation.

We need your support in this difficult time. Every reader contribution, no matter the amount, makes a difference in allowing our newsroom to bring you the stories that matter, at a time when being informed is more important than ever. Invest with us.

Make a one-time contribution to Alternet All Access, or click here to become a subscriber. Thank you.

Click to donate by check.

DonateDonate by credit card
Donate by Paypal
{{ post.roar_specific_data.api_data.analytics }}