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California Energy Markets / This Week

[CEM 1521 / January 11, 2019]

Downgrades Worsen PG&E Financial Woes

Lawmakers, regulators and California’s new governor are grappling with Pacific Gas & Electric’s questionable financial health, and not all are sympathetic toward the utility. S&P Global Ratings and Moody’s Investors Service downgraded PG&E’s and parent company PG&E Corp.’s credit ratings to “junk” status, adding to the uncertainty around the embattled utility’s future. S&P said its downgrade is a result of a “souring political and regulatory environment.”

RA Proposal Draws Flak at CPUC Meeting

A California Public Utilities Commission proposal that would reform the agency’s resource-adequacy program is drawing criticism from multiple quarters. If approved, the CPUC would adopt a new three-year RA process and appoint distribution utilities as “central buyers” in their respective service territories. At a Jan. 4 all-party meeting, however, community choice aggregator representatives suggested that the overhaul is attempting to fix a reliability problem that doesn’t exist.

Economic Growth, Gas Expansion Lead to Rise in U.S. CO² Emissions

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U.S. carbon emissions likely rose in 2018 for the first time in nearly a decade based on preliminary estimates, an independent research firm said in a new report. Expansion in natural gas-fired generation and an expanding economy are contributing factors, and an unusually cold winter also led to greater fuel usage and a rise in building emissions, it said. The industrial sector posted the largest emissions increase compared with 2017, while transportation had the largest volume of carbon emissions.

Also In California Energy Markets This Week . . .

  • Potomac: House Passes Individual Spending Bills
  • CPUC Considers Divergent Proposals on Wistaria PPA
  • Hawaii Sees Record-Low Solar-Plus-Storage Bids
  • Bottom Lines: Newsom Quickly Wades Into Wildfire, PG&E Crises

       ...And Much More!

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