California residents endured four days of rolling blackouts in January and March and have faced staggering utility bills. News media stories have blamed skyrocketing wholesale power prices and the state's 1996 deregulation law, AB 1890, which prohibits utilities from passing those increases to customers. Last week California's largest utility, Pacific Gas and Electric, filed for bankruptcy. But California's 1996 deregulation law was written by corporate lawyers of California's utility companies, Wasserman said. He said that money was laundered to those utilities' parent companies.
Bankruptcy means they're protected.
You can't get at them. Susan Glairon is the Camera's Business Writer. With A Friend Common Dreams NewsCenter is a non-profit news service providing breaking news and views for the Progressive Community. This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc.