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Gray Davis

"Here is my general approach to the energy companies. You have already charged the utilities a 50 percent credit penalty for the power they were buying from you. You're charging us a penalty. You're not going to get two bites of the apple here."

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"Here is my general approach to the energy companies. You have already charged the utilities a 50 percent credit penalty for the power they were buying from you. You're charging us a penalty. You're not going to get two bites of the apple here."

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Akshay Vasu

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Gray Davis
"Well, we're trying to patch and fix and put a cast on a broken system here. You can call it what you want, but we'll continue to purchase power in a private market."

Power

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Gray Davis
"We're not going to take this sitting down. We are fighting back."

Fight

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Gray Davis
"I don't know why they're doing it. I have to assume that their motives are positive, not negative. But they don't understand the severity of the problem in this state."

Negative

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Gray Davis
"Now, in the space of a year, we've spent 450 percent more for power than we did the year before, and bought essentially the same amount of power. This year, that number's likely to go up. That can't go on forever and have us continue to be the economic engine for America."

Power

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Gray Davis
"Well, there's no question that the law passed in 1996 was flawed. It deregulated the wholesale market, meaning the price that the utilities had to pay energy companies for power, but not the retail market."

Power

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Gray Davis
"Duke came to us. They volunteered to come to us and made a number of suggestions to some people on my staff. I don't know how I would characterize them, but there have been some discussions going back and forth between Duke and members of my staff."

People

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Gray Davis
"I know that Duke made a number of demands, including that the attorney general drop its investigation. We have no intention of asking the attorney general to do that."

Government

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Gray Davis
"We'll have a public power authority, which will also have the ability to build power or finance power. And more importantly, we'll have more power than our economy provides. All of that will give us leverage we don't have today."

Finance

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Gray Davis
"We started focusing on this in earnest late summer and early fall. I can build more power plants. In the 12 years before us, not a single plant of major consequence was built."

Power

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Gray Davis
"Here is my general approach to the energy companies. You have already charged the utilities a 50 percent credit penalty for the power they were buying from you. You're charging us a penalty. You're not going to get two bites of the apple here."

Power

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