Rare Good News in California: Water Dept. Needs $1B Less Than Thought

Finestone, Deborah
May 2003
Bond Buyer;5/15/2003, Vol. 344 Issue 31636, p6
Trade Publication
The California Department of Water Resources says to the state Public Utilities Commission that it will need 1 billion dollar less from ratepayers to buy electricity than it previously expected. The good news comes as the state prepares to make the argument to the Federal Energy Regulatory Commission that long-term energy contracts signed by the state in 2001, during the height of California's energy crisis, should be restructured. The reduced revenue requirement will likely translate into lower fees for ratepayers. The lower revenue requirement will leave the department's reserve levels around 2 billion dollar.


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