ABATE’s experts reviewed the value of Edison’s assets using two different methodologies and both reached the same result: the net value of Edison’s coal, gas and oil fired generating units plus the value of Edison’s hydroelectric units exceed the amount related to Edison’s nuclear unit which it claims is stranded by about $3 billion. In other words–the company has no net stranded costs, and should not be permitted to move ahead to securitize all of the $1.8 billion it has asked the Michigan Public Service Commission to issue bonds for.
CHICAGO, Sept. 19, 2000 – Rating service Fitch IBCA said it lowered its outlook for San Diego Gas and Electric Co. (SDG&E), Southern California Edison Co. (SCE), and Pacific Gas and Electric Co. (PG&E) to negative from stable on liquidity pressures stemming from high wholesale electric power costs and uncertain recovery of these expenses under existing regulatory structures.
