california update 5 / 11 / 01 ? the extraordinary session is expected to close early next week , after the governor has signed sb 28 x , a power plant siting bill . yesterday , the governor signed bond financing bill sb 31 x . once the extraordinary session is closed , a new extraordinary session is expected to be opened immediately . however , sources report that no one is certain if the bills from this session will have the same numbers in the next session . the legislature reportedly is trying to arrange so that the bills will not have to be heard again in committee .
? the mou still does not have a sponsor . governor davis hopes to reach a deal with sempra for the state to purchase san diego gas and electric ' s transmission assets . he reportedly feels that by having deals in place with socal and sdg & e , enough momentum might be added to push the mou through the legislature . he then could go to the bankruptcy court and propose adding pg & e ' s assets , since he would have two of the three pieces in place . the validity of this logic seems questionable at best . sources are skeptical that adding sdg & e to the mou would increase the chances of the deal going through the legislature . also , the governor has claimed to be close to having a deal with sdg & e for several weeks , but such a deal has not yet been finalized . the governor stated that he will have a sponsor for the mou by next week when the bill will be introduced . the mou might be introduced in the legislature , then amended to indicate a lesser amount for the transmission asset purchase . this still would not assure passage since so many legislators reportedly are against the mou .
? the windfall profits tax bill has not been set for hearing on the assemble floor .
? state legislature , elizabeth hill , published a report earlier this week regarding an analysis of state revenues . the report stated that revenues for this year would be $ 3 . 4 b less that was expected in january 2001 , not including electricity costs . she predicts that ongoing state programs will have to be cut by approximately $ 1 . 7 b .
? moody ' s has put california ' s credit rating under review for another downgrade . sources report that moody ' s , s & p , and mbia have all informed california that " the only way the state will improve its credit rating and look better to investors is to get out of the power business and resolve the undercollected . "
california update 5 / 11 / 01
? the extraordinary session is expected to close early next week , after the governor has signed sb 28 x , a power plant siting bill . yesterday , the governor signed bond financing bill sb 31 x . once the extraordinary session is closed , a new extraordinary session is expected to be opened immediately . however , sources report that no one is certain if the bills from this session will have the same numbers in the next session . the legislature reportedly is trying to arrange so that the bills will not have to be heard again in committee .
? the mou still does not have a sponsor . governor davis hopes to reach a deal with sempra for the state to purchase san diego gas and electric ' s transmission assets . he reportedly feels that by having deals in place with socal and sdg & e , enough momentum might be added to push the mou through the legislature . he then could go to the bankruptcy court and propose adding pg & e ' s assets , since he would have two of the three pieces in place . the validity of this logic seems questionable at best . sources are skeptical that adding sdg & e to the mou would increase the chances of the deal going through the legislature . also , the governor has claimed to be close to having a deal with sdg & e for several weeks , but such a deal has not yet been finalized . the governor stated that he will have a sponsor for the mou by next week when the bill will be introduced . the mou might be introduced in the legislature , then amended to indicate a lesser amount for the transmission asset purchase . this still would not assure passage since so many legislators reportedly are against the mou .
? the windfall profits tax bill has not been set for hearing on the assemble floor .
? state legislature , elizabeth hill , published a report earlier this week regarding an analysis of state revenues . the report stated that revenues for this year would be $ 3 . 4 b less that was expected in january 2001 , not including electricity costs . she predicts that ongoing state programs will have to be cut by approximately $ 1 . 7 b .
? moody ' s has put california ' s credit rating under review for another downgrade . sources report that moody ' s , s & p , and mbia have all informed california that " the only way the state will improve its credit rating and look better to investors is to get out of the power business and resolve the undercollected . "