01/30 21:23

California Senate Panel Delays Vote on Electricity Rescue Plan

By David Ward

Sacramento, California, Jan. 30 (Bloomberg) -- A California state Senate committee unexpectedly delayed a vote today on a bill to allow the state to buy power for its cash-strapped utilities after some legislators said they opposed a provision in the measure allowing electricity rates to be raised.

The Senate Appropriations Committee delayed a vote on the bill, which would allow the state to issue more than $10 billion in bonds to buy power for PG&E Corp.'s Pacific Gas & Electric, Edison International's Southern California Edison, and Sempra Energy's San Diego Gas & Electric.

Legislators who oppose the provision allowing the state to raise electricity rates to pay for the power said they would try to insist the bill order consumer rates to remain unchanged.

``I'm not voting for anything that includes a rate increase, and other members feel the same way,'' said Republican Senator Jim Battin of Palm Springs.

Supporters of the bill say they have enough support to include the provision that would allow the state to raise consumers' and businesses' electricity rates needed to pay for the power.

-- Swissrose (cellier@azstarnet.com), January 31, 2001