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Action: Stop the Bailout of the Energy Robber Barons!

by anon Wednesday, Sep. 05, 2001 at 2:50 PM

CA Assembly likely to vote TODAY on a .1 Billion bailout bill negotiated in secret with the utilities and energy companies. Action: Contact your representative.

STOP THE BAILOUT OF THE ENERGY ROBBER BARONS!

The California Assembly is likely to vote TODAY on a .1 Billion bailout bill negotiated in secret with the utilities and energy companies. Most of the money will go to pay off SoCal Edison’s debt to the same Texas and Carolina energy companies who are still charging outrageous prices for natural gas and electricity.

If you want to hold onto your $ and to find a long term, sustainable solution to our current energy problems, you need to let “your representative” know RIGHT AWAY to vote against any bailouts.

Tell them to vote NO on SB78xx - no bailouts!

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Assembly Member Contact Information:

http://www.assembly.ca.gov/acs/acsframeset7text.htm

(Click on “[bio]” next to assembly member’s name for most complete contact info.)

Find My District:

http://www.assembly.ca.gov/acs/acsframeset9text.htm

---

ASSEMBLY POISED TO PASS EDISON BAILOUT

WITH HUGE COSTS TO RESIDENTIAL RATEPATERS

Christmas in August for Edison.

As predicted, California Assembly Members are poised to vote on a .1 billion Edison bailout package, backed by utilities, energy companies and big business. SB 78xx, as amended after an industry lobbying onslaught in committee, not only requires a .1 billion bailout of Edison – including interest – (as presently drafted, to be paid for by most businesses in California). It also would leave residential and small business ratepayers to pay the bulk of the 0 billion+ worth of long-term energy contracts negotiated by the Davis Administration. It does so by freeing large electricity users to cut better energy deals with electricity wholesalers. Now that the state has been stuck with inflated contracts, the big users – who were glad to have the state buying electricity for them a few months ago – want to go back to “competition” and “deregulation,” which they now call “Direct Access,” and not have to pay for the expensive energy bought by the state. Finally, the bill would allow Edison more than one billion dollars in excess profits.

Legislature to Voters: You’re Stupid.

In a repeat of the legislative circus that brought California deregulation in 1996, the Assembly leadership intends to push the bill through the Appropriations Committee, then a full vote on the floor of the Assembly as soon as possible, even though the bill has not yet been printed and therefore Assembly Members have not read it. Indeed, only a handful of lawmakers even know what’s in it. Our Sacramento “War Room” is in full swing, however, and we’ve been following the bill closely. You can read a factsheet summarizing the bill at:

http://www.ratepayerrevolt.org

The Bailout is not necessary and will result in a Ratepayer Revolt.

Edison International should take care of its Southern California Edison subsidiary. Because the company refuses to bail itself out is not reason to make the ratepayers liable for Edison’s financial foolishness.

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If you want to hold onto your $ and to find a long term, sustainable solution to our current energy problems, you need to let “your representative” know RIGHT AWAY to vote against any bailouts.

Tell them to vote NO on SB78xx - no bailouts!

---

Assembly Member Contact Information:

http://www.assembly.ca.gov/acs/acsframeset7text.htm

(Click on “[bio]” next to assembly member’s name for most complete contact info.)

Find My District:

http://www.assembly.ca.gov/acs/acsframeset9text.htm

---

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