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Less Demand and Cleaner Options Spell Lower 2019 Costs for CAISO

7 Jul

The California Independent System Operator saw a whopping 17% reduction in overall wholesale electricity market costs in 2019 compared to the year before, thanks to energy efficiency, the deployment of small renewables, more hydropower and less natural gas. Total energy costs last year were $8.8 billion, at an average $41 per megawatt-hour, compared to $10.8 […]

PG&E Has $17B on Hand for Fire Victims & Cities

1 Jul

Updated July 2 Pacific Gas & Electric announced July 1 it funded much of the cash portion of its $13.5 billion settlement with victims of wildfires from 2015-18, as well as the Oakland Ghost Ship warehouse fire. PG&E funded the victim trust with $5.4 billion in cash. It will receive a further $650 million cash […]

CPUC Lets Big Hybrid Resources Play in Supply Cushion Market, Blasts FERC’s Transmission Bonuses

25 Jun

The California Public Utilities Commission approved changes to local resource adequacy parameters for 2021-23, including counting capacity from front-of-the meter solar and storage projects and hydro resources. It does not allow behind-the-meter renewable projects paired with storage to participate in the local supply cushion market. The CPUC’s 5-0 decision creates a working group made up […]

Court Approves PG&E $60B Financing Scheme, Company Issues More Debt

23 Jun

The U.S. Bankruptcy Court confirmed Pacific Gas & Electric’s $58 billion reorganization to resolve massive claims—from wildfire victims and other creditors—10 days ahead of a legislative June 30 deadline. That is the final date for accessing the $21 billion utility ratepayer and shareholder funded fire trust, which PG&E and the court have kept their eyes […]

PG&E to Sell San Francisco Headquarters, Issue $9B in Stock

9 Jun

Pacific Gas & Electric announced June 8 that it would sell its San Francisco headquarters near the Embarcadero waterfront. After more than 115 years in the City by the Bay, it plans to relocate to Oakland in the East Bay the year after next. The move is expected to lower company costs. The same day, […]

The Buzz

28 May

The California Public Utilities Commission approves Pacific Gas & Electric’s huge debt package to get it out of federal bankruptcy court by the end of June as directed by state legislation.   Moving on a parallel track is legislation setting the stage for California to seize PG&E’s gas and electric assets. Putting the utility under […]

CPUC Gives PG&E Bankruptcy Plan the Green Light

28 May

State utility regulators May 28 unanimously signed off on a $58 billion bankruptcy reorganization plan for Pacific Gas & Electric, California’s largest utility. Marybel Batjer, California Public Utilities Commission president, said the plan leaves some important power in the hands of regulators, including the ability to force PG&E to prioritize customer safety. She said that, […]

JUICE: Doubts about PG&E Promise to Exit Bankruptcy Sans Rate Hike

26 May

Pacific Gas & Electric’s $58 billion borrowing plan to exit bankruptcy is required to be rate neutral. Ratepayers are not supposed to pay an extra dime for the Chapter 11 proceedings under the law creating a $21 billion wildfire fund, AB 1054. Protecting ratepayers from paying for this second bankruptcy, which roughly doubles PG&E’s debt, […]

FERC Advances LNG Projects Amid Fall in Demand

21 May

Federal regulators May 21 declined to reexamine their approval of the permit for the controversial Jordan Cove liquefied natural gas project in Oregon. The Federal Energy Regulatory Commission also certified an LNG project on Alaska’s North Slope. The approvals come as global demand for the fossil fuel has fallen because of pandemic policies. Commissioner Rick […]

News Roundup: ARB Sues Fed Over Clean Car Waiver, PG&E Signs 423 MW of Storage Deals

19 May

The California Air Resources Board has sued the U.S. Environmental Protection Agency and National Highway Safety Transportation Administration for failing to provide a rationale for blocking its emission standards for cars and light trucks that are stricter than the federal ones. The suit, unlike others over the Clean Air Act waiver authority, is based on […]

PG&E Wildfire Victims Back $13.5B Deal, CPUC Set to Approve Reorg Plan

19 May

Updated May 21 Most of the tens of thousands of victims of fires in 2015, 2017 and 2018 that were sparked by Pacific Gas & Electric agreed to the company’s pending $13.5 billion cash and stock settlement. PG&E said May 18 that there has been “overwhelming acceptance of the plan” by the surviving victims—those who […]

The Buzz

14 May

The massive hole in the upcoming state budget caused by the pandemic does not keep Gov. Gavin Newsom from adding funds to protect against wildfires and its fallout.  It is another story for climate protection, however. Covid-19 also is responsible for destroying huge numbers of jobs in energy efficiency, renewables and other alternative energy sectors […]

Pandemic Pounds CA Green Energy Jobs

13 May

The energy efficiency, renewables, electric cars, energy storage and clean fuels industries in the U.S. have gotten hammered by the pandemic, with those in California suffering the biggest blow, according to a report released May 13. There were 105,443 clean energy jobs lost in March and April in the Golden State, with 77,869 of those […]

Hard Times for Independent Generators

12 May

Updated May 13 The six merchant generators with operations in California saw their net income fall, some slightly, others significantly. All have felt the impact of the pandemic and resulting drop in commercial and industrial power demand. But the companies have largely been able to keep their construction projects on track. Calpine: Earnings declined for […]

The Buzz

7 May

The California Public Utilities Commission staff releases a draft resolution that finds big holes in the private utilities 2020 plans for reducing wildfire threats. But it recommends they be approved. Pacific Gas & Electric shareholders are on the hook for nearly $2 billion for numerous fires the company sparked in 2017 and 2018. The presiding […]

PG&E Hit with $1.94B Penalty for Wildfires

7 May

State regulators voted unanimously May 7 to have Pacific Gas & Electric’s shareholders pay $1.937 billion for 15 fires utility equipment sparked in 2017 and 2018. It is the largest California Public Utilities Commission fine to date. The penalty is higher than a proposed settlement reached by PG&E and regulatory safety staff. It is lower […]

Earnings Rise for PG&E & Sempra; Decline for Edison

4 May

Utility parent companies Pacific Gas & Electric Corp. and Sempra Energy reported higher earnings for the first quarter of the year. Edison International’s earnings went south. All the subsidiary utilities reaped higher revenue in their rate cases and from wildfire funding. The companies are seeing lower income from utility bill collections because of the pandemic. […]

The Buzz

23 Apr

The California Public Utilities Commission seeks ways to ease the suffering of ratepayers and alternative energy companies and their workers struggling to stay afloat during the pandemic. After months of controversy, East Bay Community Energy votes 10-5 to reject taking nuclear power from PG&E. The nuclear power is a hot political potato for the East […]

CPUC Set to Lower PG&E Penalty, Approve Reorganization Plan

21 Apr

Pacific Gas & Electric would pay a total $1.94 billion penalty for the deadly Camp Fire that destroyed the City of Paradise in late 2018, and for 17 other fires it sparked that year and the previous year under a California Public Utilities Commission April 20 proposal. If adopted, it would be the largest penalty […]

Community Choice Roundup

16 Apr

Community energy representatives protested the pending California Public Utilities Commission decision putting the private utilities in charge of a centralized capacity market to buy supply cushions for a variety of energy providers. If adopted, the decision would conflict with “a key objective of the Commission’s reliability oversight,” which is to safeguard community energy’s “self-procurement autonomy,” […]