It seems as though they're trying to stick the public with as much as they can and pull a lot of resources out of California for their parent company. For businesses, the biggest issue remains staving off the threat of blackouts. The bankruptcy is not going to help matters. Some business groups seem resigned to higher rates, if they would guarantee more reliability in the electricity supply. It's a regrettable necessity.
Bankruptcy proceedings can drag on for years.
But some observers said the situation might be resolved much more quickly. That actually would be preferable to the alternative, he said. I don't see how bankruptcy court benefits consumers at all. It takes a lot of the control over the state's energy policy out of the hands of the state and into the hands of a bankruptcy judge whose almost-sole consideration is the welfare of the creditors. On the upside, the open nature of bankruptcy proceedings makes them preferable to secret wheeling and dealing, consumer advocates said, pledging that they will fight to make ratepayers' concerns heard in court.