Business Services Industry
Customers pay off big debt to San Diego Gas & Electric.
Knight Ridder/Tribune Business News, December, 2004
By Craig D. Rose, The San Diego Union-Tribune Knight Ridder/Tribune Business News
Dec. 16--San Diego Gas & Electric customers have at last paid off one of the more infamous debts of the 2000-2001 electricity crisis, the $750 million charge the utility said it was owed for power purchases during the deregulation debacle. SDG&E said the controversial debt was erased Nov. 30, after about three years of customer payments and refunds.
But ratepayers shouldn't expect any large reductions in power bills because of the way the debt was repaid, the utility said. Customers paid down the charge through the Competition Transition Charge included in each monthly bill, which amounted to $1 or less for most customers. But larger sources of repayment included...
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