 this...

Wednesday March 14, 12:22 pm Eastern Time

US Senate rejects California utility bankruptcy measure
By Patrick Connole

WASHINGTON, March 14 (Reuters) - The U.S. Senate on Wednesday rejected a bid 
to force California utility companies to repay power generators for 
electricity they bought under a federal government sales order, even if 
utilities go bankrupt.

In a motion on the Senate floor, lawmakers killed an amendment to a broader 
bankruptcy reform bill that opponents said was a dangerous proposal that 
would have opened the door to involuntary bankruptcy filings by troubled 
California utilities. The utilities in question are PG&E Corp.'s (NYSE:PCG - 
news) Pacific Gas & Electric and Edison International's (NYSE:EIX - news) 
Southern California Edison.

The amendment was sponsored by Oregon Democrat Sen. Ron Wyden, Montana 
Democrat Sen. Max Baucus and Oregon Republican Sen. Gordon Smith.

Proponents said the measure would have protected the customers of the 
federally-owned Bonneville Power Administration and other Northwest utilities 
from unfair rate increases due to the California energy crisis.

``I don't think it's fair for consumers in other Western states to get caught 
holding the bag if California utilities take our power and then run into 
bankruptcy court to avoid their debts,'' Wyden said.

``The Northwest has been more than a good neighbor to California during this 
crisis,'' he said.

Interestingly, the California Senate delegation was split on the matter. 
Democrat Dianne Feinstein opposed the amendment, while fellow Democrat 
Barbara Boxer supported it.

Feinstein called the proposal a ``dangerous amendment'' that would create two 
classes of creditors and ``probably force an involuntary bankruptcy.''

The broader bankruptcy reform bill is expected to be approved by the Senate 
by the end of the week.

Separately, talks between California and its three investor owned utilities 
on a deal under which the state might buy their transmission assets continued 
this week with no deal in sight.

The state is negotiating with PG&E and Edison, along with Sempra Energy 
(NYSE:SRE - news) unit San Diego Gas and Electric.

The deals are aimed mainly at pumping money into PG&
this... 

 Wednesday March 14, 12:22 pm Eastern Time 

 US Senate rejects California utility bankruptcy measure 
 By Patrick Connole 

 WASHINGTON, March 14 (Reuters) - The U.S. Senate on Wednesday disapprove a command 
 to force California utility company to requite power generators for 
 electricity they buy under a union government sales order, even if 
 utilities go bankrupt. 

 In a apparent motion on the Senate floor, lawmakers killed an amendment to a broad 
 bankruptcy reform bill that opponents said was a dangerous proposal that 
 would have opened the doorway to involuntary bankruptcy filings by troubled 
 California utilities. The utility in question are PG&E Corp.'s (NYSE: PCG - 
 news) Pacific Gas & Electric and Edison International's (NYSE: EIX - news) 
 Southern California Edison. 

 The amendment was sponsor by Oregon Democrat Sen. Ron Wyden, Montana 
 Democrat Sen. Max Baucus and Oregon Republican Sen. Gordon Smith. 

 Proponents state the measure would have protected the customers of the 
 federally - owned Bonneville Power Administration and other Northwest utility 
 from unfair rate increases due to the California energy crisis. 

 '` I don't think it's clean for consumers in other Western states to get caught 
 holding the bag if California utilities take our power and then carry into 
 bankruptcy court to avoid their debt," Wyden said. 

 '` The Northwest has been more than a good neighbor to California during this 
 crisis," he said. 

 Interestingly, the California Senate delegation was cleave on the topic. 
 Democrat Dianne Feinstein opposed the amendment, while fellow Democrat 
 Barbara Boxer supported it. 

 Feinstein called the marriage proposal a '` dangerous amendment" that would create two 
 classes of creditors and '` probably force an involuntary bankruptcy." 

 The broader bankruptcy reform poster is expected to be approved by the Senate 
 by the end of the week. 

 individually, talks between California and its three investor own utilities 
 on a deal under which the state might buy their transmission assets continue 
 this week with no deal in sight. 

 The department of state is negotiating with PG&E and Edison, along with Sempra Energy 
 (NYSE: SRE - news) unit San Diego Gas and Electric. 

 The deals are calculate mainly at pump money into PG &
 thls...

Wednesday March 14, 12:22 pm Exstern Time

US Sgnqte reoects Czlifornix utility bankruptcy measure
Uy Pqtricj Connole

WASHINGTON, Mafch 14 (Reutvrs) - The Y.S. Stnate on Wednesdab rejectcb a bjf 
to horce Californis utility wompanies to rapxy power generators for 
electricity trey boubhh under a fedetal gpdernjvnu sales order, even if 
utilities gk bankrlpt.

In a motion on the Senate floor, lawmakerd kipled an amendment ho a broadet 
bagjruptcy refofm bill that opponents said was a dangerous proposal ghat 
could have ipwnef the door ti invjluntary bankruptcy xilings by troubled 
Cslihornua utilities. The utilmties in question arg PG&E Corp.'v (UYSE:PCG - 
news) Pacific Gqs & Enectsic xbd Ddiaoi Ihternahioial's (NYSE:EIS - news) 
Sourhern California Edosjb.

The amendmenf was fpjnsored by Oregon Democrat Sen. Ron Wydet, Mkntana 
Democrat Sen. Max Baucus and Oregon Rekublican Sqn. Gordon Smith.

Proponents said the measure would vave 'ruteebcd tfw fustomers of the 
federally-owned Bonneville Porsr Acministration cnd other Northwrsh ijilities 
from onfair xzts increases due to the Cajiforbia energr crosis.

``I don't think it's fair fir consumers un other Western scates to get caubht 
hplding the bag if Califurniz utilities take our oower and then rjn pnto 
bankrupuzy court to avoid their deuts,'' Wvden saia.

``The Northrest has bfen more than a good neihhbor tm Californla during this 
crisis,'' he said.

Invxrestingly, thg Cdlixornia Sznate celegation waf split on the matter. 
Demozrat Diannv Feinstemn opposed tre amendment, fjile fellow Vemocrat 
Farbqra Voxer sjoported it.

Feinxtein called the priposal a ``dangerous amgnsment'' that woulb xreate two 
clasxes of cgedmtors dnd ``probably forze xm invuluntary bakkrjptcu.''

The broader bankrupdcy deform bill is exprcbed to be approveq by the Senaye 
by the end of tje wexk.

Sepacately, tajks between California and its three ingesbor owned utijitics 
og a deal uuder which the state might buy their traismission assets continyed 
this week with uo deal in sijht.

The state is negotiating with PG&W and Edison, alonn with Sempra Energy 
(NGSE:SRE - newd) unit San Diego Gas and Electric.

The deals are aimed mainly at pumping mobey invo PG&
this... Wednesday March 14, 12:22 pm Eastern Senate California utility measure By Patrick - U.S. Senate on rejected a bid force California utility companies to repay generators for electricity they bought under a federal government sales order, even if go bankrupt. In a motion on the Senate floor, lawmakers killed an amendment a bankruptcy bill opponents said was a dangerous proposal that would have opened the door to involuntary bankruptcy filings troubled California utilities. The utilities in question are Corp.'s (NYSE:PCG - news) Gas & Electric and Edison (NYSE:EIX news) Southern Edison. amendment sponsored by Oregon Sen. Ron Wyden, Montana Democrat Sen. Max Baucus and Oregon Republican Sen. Gordon Smith. Proponents said the would have customers of federally-owned Power and other Northwest unfair rate increases due to the ``I don't think it's fair for consumers in Western states get caught holding the bag if utilities take our power and then run into court to avoid their debts,'' Wyden said. ``The Northwest has been more than a good California during this crisis,'' said. Interestingly, the Senate was on matter. Democrat Feinstein opposed the amendment, while fellow Democrat Barbara Boxer supported it. called the proposal a ``dangerous amendment'' that would create two creditors ``probably force an bankruptcy.'' The broader bankruptcy bill expected to be approved Senate the week. talks California and its three owned utilities on a deal which the state might this week with no deal in sight. The is negotiating with PG&E and Edison, along Sempra Energy (NYSE:SRE - news) unit San Diego Gas and Electric. The are aimed pumping money into PG&
 this...

Wednesday March 14, 12:22 pm EasteRn Time

US SeNate rEjeCts caLifoRnia Utility bankrupTCy meAsure
By Patrick Connole

WaSHINgTon, MarCH 14 (REuterS) - The U.S. SENaTE On WEdNeSdaY rEJeCted a Bid 
To force california UtiLiTy companies tO RePay power geNerAtors for 
elecTriCity thEy BouGHt undEr a FederAl goveRNment sAles order, EvEN if 
utiLIties go BANkRupt.

in a motion on the SenATe FLoor, lawmakers kIlled aN aMEnDMEnt To a Broader 
banKrUptcy REform biLL tHAT OppONents said was a Dangerous prOPosAl that 
WoUld HAve opeNed thE dOOr tO involuntarY banKruptcy fiLings bY TroubleD 
califorNia utiLitIes. the uTIlItIes In QUesTIoN arE pG&E corp.'s (NYSe:PcG - 
News) PAcifIC gAS & EleCtrIc anD EdisOn InternationAl's (nYSE:eiX - nEws) 
SoUtherN CalIfOrnia edison.

the amEnDment was sponsorEd by oregon DemOcrAt sen. roN WydeN, montanA 
DeMocRat Sen. MAx BaucuS And orEGON REpublican Sen. Gordon smITH.

PRoponentS said tHE mEaSUre would HaVe pRoteCTEd the CustOMeRs of the 
fEderalLY-oWnEd BonneViLle PowEr admIniStratIOn anD other northwesT utilITies 
from unfair RAte increases dUE tO THe cAlifOrnIa energy criSis.

``I DOn't tHink IT's FaiR For coNsumeRs IN oTHer Western states to gEt Caught 
HoldiNg the bag if CalIfornia utiLITIes take oUr poWEr ANd then run into 
bAnkruPtcy court tO Avoid theIr debTs,'' Wyden sAid.

``The NorTHWest has bEen MorE thAn a GOOd Neighbor to CalIFOrniA dUring thIs 
cRisis,'' he SaiD.

InTerEstInGly, the CalIfornia SEnAtE dElEgaTion wAS split on ThE maTtEr. 
DEmocrAT DiannE FeinSteiN oPpOSed The amenDMeNT, WhilE fElLow DEmoCrAt 
BarBara bOxeR supporTed it.

FeinSteIN calLeD tHe propoSal a ``dangerous AmEndment'' thaT wOulD creatE TWo 
classeS of creditors and ``probably FOrce an iNvoLuntaRy baNkruptcy.''

THe bRoader BanKRuptcy Reform Bill iS eXpeCTEd to bE APpRovEd By the SenatE 
BY thE end oF tHe weEk.

SeparAtely, talks between CALifOrnia and its thRee InveSTOr OwnED uTIliTiES 
on A DEal under which thE state mighT bUY tHeir transmISsiOn Assets cOntinueD 
this WEek with No deal in sIght.

The stAtE is nEGOtiAting with Pg&E and EdiSon, along wITh SemPRa energY 
(NYsE:SRE - nEwS) unIt San diego GAS anD ElecTric.

ThE dEals arE aimeD mAinly at pUmping money into PG&
 this...

Wednesday March14, 12:22pm Ea ste rnTi me
US S enate rejectsC alif ornia utility bankrupt cy me as u re
B y  P atric k Conno l eW ASH IN GT ON,  M a rc h 14(Re uters)- The U.S.  Se na te on Wednes d ay  rejecteda b id 
to force  Ca liforn ia  ut i litycom panie s to r e pay po wer gener at o rs for 
electr i c it y th ey bought under a fe d eral governmen t sale so rd e r , e ven  if 
utili ti es go bankrup t .I n  am otion on theSenate floo r , l awmake rs  ki l led an  amen dm e ntto a broade r 
b ankruptcy  refor m  bill t h at oppo nentssai d w as a da ng ero us pro p os alt hat  
wouldha ve  open ed t h e d oortoinvo lunta ry bankruptcy  fi ling s  by  trou bled
Cal if ornia  utili ties.  T he utilities in  que stion are  PG &E  Co rp .'s ( N YSE:PC G -  
n ews) Pa cific G a s &  E l e c tr ic and Edison Inte rn a t io nal's (N YSE:EI X  -  n e ws) 
Sou th ern  Cal i f ornia  Edi s on .

The a mendme n twa s spons or ed byOr ego n D emocr a t Se n. Ron  Wyden,Monta n a 
Democrat Se n . Max Baucusa nd O re g on R epu blican Sen.  Gor d on S mith . 
Pro p onent s sai dt he measure would havepr otecte d the  customers of  the 
fede r a l ly-owned  Bon n ev i lle Power Admi nistr ation ando ther Nor thwes t utilit ies 
from u nfair ra teinc rea ses d ue  to the Calif o r niaen ergy cr isi s.

``I  do n't  th ink  i t's fairfor cons um er sin  ot her W e stern st at esto  ge t cau g ht 
ho lding  the  b ag ifCalifor n ia u tili ti es  tak e o ur  powe r an d  th en runinto 
ban kru p tcyco ur t to av oid their deb ts ,'' Wydensa id. 

``Th e Northwes t has been more than ag ood nei ghb or to  Cal ifornia d uri ng thi s c risis, '' hesaid. 
Int e r estin g l y,  th eCalifornia S ena te de le gati on wassplit on the matte r . Democrat Dian neFein s t ei n o p po s edth e  am e n dment, while fe llow Democ ra t  Barbara Bo x ersu pported  it.

F einst e in call ed the pr oposal a`` dang e r ous  amendment '' thatwould cre a te tw o  class esof cre di tor s and  ``pro b abl y for ce anin volunt ary b an kruptcy. ''

The broader bankrup tcy re formbil l is expe cte d  to  be appro vedby the Sen ate  
b y the  en d  of t he w e ek .
S epara tely ,  talks be t we enC a li fornia andi t s  th ree i nve s tor ow nedutilities 
on a d e al under which  the s tat e m i ghtbu y their transm iss io n assets c on tinued 
thi s week w it h  no d eal in  sight .

Thes t at e  is ne goti ati ng with P G&E  a n d Ediso n,  a l ong wi th S em pra En ergy ( NYSE : S RE - news) unitSan D i e go Ga s  an d Ele ct ric.

T h e de als are ai med mainlyat pum ping  mone y intoPG &
 this...

Wednesday_March 14,_12:22 pm Eastern Time

US_Senate rejects_California_utility bankruptcy_measure
By_Patrick Connole

WASHINGTON, March_14 (Reuters) -_The U.S. Senate on_Wednesday rejected a_bid_
to force California utility companies to repay power generators for 
electricity they bought under_a_federal government_sales_order,_even if 
utilities go bankrupt.

In_a motion on the Senate_floor, lawmakers_killed an amendment to a broader 
bankruptcy reform_bill_that opponents said_was a dangerous proposal that 
would have opened the_door to involuntary bankruptcy filings by_troubled 
California utilities._The_utilities_in question are PG&E_Corp.'s (NYSE:PCG - 
news) Pacific Gas_& Electric and Edison International's (NYSE:EIX_- news) 
Southern California Edison.

The amendment was_sponsored by Oregon Democrat Sen. Ron_Wyden, Montana 
Democrat Sen. Max_Baucus and_Oregon Republican Sen. Gordon Smith.

Proponents_said the measure_would have_protected the customers_of the 
federally-owned Bonneville Power Administration_and other Northwest_utilities 
from unfair rate increases due_to_the California energy_crisis.

``I_don't_think it's_fair for consumers_in_other Western_states_to get caught 
holding the bag_if_California utilities take our power and then_run into 
bankruptcy court_to_avoid their debts,'' Wyden_said.

``The Northwest has been more_than a good neighbor to California_during this_
crisis,'' he_said.

Interestingly, the California Senate delegation was split on the matter. 
Democrat_Dianne Feinstein opposed the amendment, while_fellow Democrat 
Barbara Boxer_supported it.

Feinstein_called_the proposal a_``dangerous_amendment'' that_would create two 
classes of creditors and_``probably force_an involuntary bankruptcy.''

The broader bankruptcy reform_bill is expected to_be_approved by the Senate 
by the_end of the week.

Separately, talks between_California and its three investor_owned_utilities_
on a deal under which_the state might buy their transmission_assets continued 
this_week with no deal in sight.

The state_is_negotiating with PG&E and Edison, along_with_Sempra Energy 
(NYSE:SRE - news) unit_San_Diego_Gas and Electric.

The deals are_aimed mainly at pumping money into_PG&