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01-09-2019, 08:47 AM
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#41
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,309
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Does SMUD have any equity or bond securities worth checking out? It’s probably too late to invest now.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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01-09-2019, 09:01 AM
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#42
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 1,955
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Quote:
Originally Posted by skipro33
...
If PGE rates increase, my investment in my solar will be paid off sooner. I guess you could say I'm rooting for a rate increase instead of a buyout or other liquidation of the company as I'm pretty sure what ever agreement I may have with PGE would evaporate.
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Utilities have figured that out. They now go for increases in the base customer/meter charge vs. rate hikes on what those meters consume because of residential solar knocking down whats pulled through the meter.
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01-09-2019, 12:12 PM
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#43
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Thinks s/he gets paid by the post
Join Date: Sep 2011
Location: Placerville
Posts: 1,788
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Quote:
Originally Posted by jazz4cash
Does SMUD have any equity or bond securities worth checking out? It’s probably too late to invest now.
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Municipal bonds I believe. Here's the latest annual report;
https://www.smud.org/-/media/About-U...al-Report.ashx
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01-13-2019, 08:58 AM
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#44
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Full time employment: Posting here.
Join Date: Jul 2018
Location: Valley of the Sun
Posts: 640
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Quote:
Originally Posted by skipro33
I don't see why there hasn't been any talk of breaking up PGE into municipalities. I worked for SMUD for over 30 years. Rates WELL below PGE's and SMUD was an island in a sea of PGE territory. SMUD is the only government entity I've ever been aware of that actually cost less and was more efficient than a private operation of the same product.
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Same thing here in Arizona. SRP (Salt River Project) is a government utility and has lower rates, better service, and faster restoration times after storms than APS (Arizona Public Service), which is a private company.
Having lived in the SF Bay area for 15 years, I recall keeping candles around as a 10mph wind would cause the power to go out. PG&E got in trouble in 1995 when a storm had the power out for over a week in parts of San Francisco and the surrounding counties. Seems they took all the tree trimming money and never used it for tree trimming.
PG&E has always been a train wreck.
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01-13-2019, 10:46 AM
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#45
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Thinks s/he gets paid by the post
Join Date: Sep 2011
Location: Placerville
Posts: 1,788
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Quote:
Originally Posted by Turbo29
Same thing here in Arizona. SRP (Salt River Project) is a government utility and has lower rates, better service, and faster restoration times after storms than APS (Arizona Public Service), which is a private company..
PG&E has always been a train wreck.
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SMUD models (or at least did when I worked there) it's operations partly on SRP. I know when I was on contract negotiations teams, SRP was used as a basis for negotiations.
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01-13-2019, 02:14 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Jan 2013
Posts: 3,405
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Quote:
Originally Posted by skipro33
Just for some background, while I worked for SMUD, I lived and still live in PGE territory. I installed solar under the original Net Metering rules. So far, almost 5 years into it, I've paid to PGE only a few dollars above their flat rate smart meter charge.
If PGE rates increase, my investment in my solar will be paid off sooner. I guess you could say I'm rooting for a rate increase instead of a buyout or other liquidation of the company as I'm pretty sure what ever agreement I may have with PGE would evaporate.
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Yeah, that thought has reduced my interest in installing solar panels significantly right now.
The City of San Jose is converting all PG&E customers to the City's "Green Energy" program on February 1st. Initial cost will be 1 percent below PG&E, but that won't last, especially if PG&E goes under. Residents can opt out now or for a period after the program starts. Somehow, I don't think this has anything to do with going green. I'm sure there is a scheme to profit somewhere, just as they have with the water supply system.
I wonder if the state regulators and legislators that have given PG&E immunity in past disasters aren't eyeing the company for a takeover by the state after a bankruptcy filing. Gavin Newsom is that kind of guy. Should be interesting times in the electric power market in California.
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P G & E may issue 15 day notice this week
01-13-2019, 07:24 PM
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#47
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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P G & E may issue 15 day notice this week
Story in today's LA Times https://www.latimes.com/business/la-...113-story.html
15 day notice is required prior to a change in ownership or operator.
Not necessarily for BK , could be on sale of gas portion of the company.
Company is also exploring sale of the HQ building in San Francisco, rumored to be worth nearly 1 billion.
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01-13-2019, 08:49 PM
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#48
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Thinks s/he gets paid by the post
Join Date: Sep 2011
Location: Placerville
Posts: 1,788
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Shares crashing pre market
01-14-2019, 04:16 AM
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#49
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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Shares crashing pre market
Extended hours trading down 50 % at 9 am EST
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01-14-2019, 07:43 AM
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#50
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2012
Posts: 6,129
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They have filed for bankruptcy, according to reports.
__________________
FIREd date: June 26, 2018 - "This Happy Feeling, Going Round and Round!" (GQ)
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01-14-2019, 08:26 AM
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#51
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Recycles dryer sheets
Join Date: Dec 2013
Posts: 78
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I was a shareholder for eight years, sold a year ago this month after rumblings about liability for the Napa fires and PCG eliminated its dividend. When I sold the stock was off its highs but above what I paid for it. A nice dividend for many years.
I’m not surprised by today’s news.
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01-14-2019, 09:03 AM
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#52
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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PG&E Corporation - Press Release
Will file chapter 11 on Jan 29th.
Shares are holding near $9 Institution ownership is 80 %
Current market cap is about 4.5 Billion, roughly equal to cash on hand.
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01-14-2019, 09:11 AM
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#53
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 4,353
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It certainly does not look good with the latest news of filing bankruptcy and the CEO leaving. Not sure what the new governor can do, in spite of his comments about trying to shield some liability.
__________________
The problem isn't artificial intelligence, it's natural stupidity.
You can't spend yourself to prosperity.
Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
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San Francisco city power ?
01-15-2019, 12:37 PM
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#54
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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San Francisco city power ?
Very large blocks traded today at very low prices , about $5 recovered to $6 and change. Mutual funds dumping it ? and who are the buyers ?
On another note S.F. city gov. toying with buying part of the system : https://www.utilitydive.com/news/san...cy-fil/546087/
Would be a complex act, but I believe more likely to happen than not.
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