You’ve heard the story. The local utility ought to be investing billions in new power plants, but the company CEO wants a guarantee from regulators for upfront costs and future operating expenses...
(1) the regulatory rate freeze imposed under the state's restructuring scheme,
(2) the state-imposed duty to serve that forced Edison to supply electricity to retail customers regardless of price, and
(3) the Jan. 4 order by the state public utility commission that Edison said barred it from obtaining funds to meet its payment obligations to the PX.