Bottom Line Up Front:
California continues to serve as a learning laboratory for misguided and futile climate policies. This time the lesson (for those with eyes to see) is to demonstrate that renewable energy programs are parasites who feast on the financial lifeblood of their host utilities until the cash is gone.
The investigation continues into the origin of the Camp fire, which some say started with a faulty PG&E wire in Pulga, California. (Carolyn Cole / Los Angeles Times / TNS)
Sammy Roth of LA Times digs deeper than others into the fallout from PG&E’s wildfire-induced bankrupcy. The article published in The Seattle Times is PG&E bankruptcy could undermine utilities’ efforts against climate change. Excerpts below with my bolds.
Solar and wind developers depend on creditworthy utilities to buy electricity from their projects under long-term contracts, but that calculus changes in a world where a 30-year purchase agreement doesn’t guarantee 30 years of payments.
The Golden State has dramatically reduced planet-warming emissions from the electricity sector, largely by requiring utilities to increase their use of solar and wind power and fund energy-efficiency upgrades for homes and businesses. Lawmakers recently set a target of 100 percent climate-friendly electricity by 2045.
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