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Article: Antioch power purchase approved: PUC gives PG&E the green light to spend $310 million to finish a facility that could be operating by next summer.
- Article from:
- Contra Costa Times (Walnut Creek, CA)
- Article date:
- June 16, 2006
CopyrightCOPYRIGHT 2006 Contra Costa Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rick Jurgens
Jun. 16--SAN FRANCISCO -- The California Public Utilities Commission on Thursday approved PG&E's purchase of an Antioch power plant even as one member warned that Wall Street worries about the state's utility rules could slow investment in new plants.
The PUC action cleared the way for PG&E to spend $310 million to complete a plant, known as Contra Costa 8, that it got as part of a settlement of charges that Mirant Corp. gouged PG&E and others during the 2000-01 energy crisis. PG&E took the plant in lieu of a cash payment of as much as $85 million.
The PUC's unanimous decision ignored complaints by an organization of ...