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Gray Davis QUOTES / QUOTATIONS
A federal agency found that, and yet nobody is willing to offer the relief that the law says California is entitled to.
Quotation of Gray Davis
All the information that Wall Street needs, that the treasurer needs, and that the Public Utilities Commission needs, to implement my plan. So we've released everything except the specific terms of the long-term contracts.
Quotation of Gray Davis
As a matter of fact, it reduced rates to customers and froze them for five years. So that was an inherent conflict.
Quotation of Gray Davis
As the governor of this state, I obviously see the issue quite differently.
Quotation of Gray Davis
But still, he's a wily old fellow - he ran the Department of Water and Power, ran the New York Power Authority, and even with no leverage, he was able to cut a pretty good deal. Over a 10-year period, we were able to get prices averaging 6.9 cents.
Quotation of Gray Davis
Can you imagine that? The state of California - they're questioning our credit. These people have no shame. None.
Quotation of Gray Davis
Curt Hebert is the chairman of the commission, but he has not been overly sympathetic to California.
Quotation of Gray Davis
David Freeman believed that was the best deal we could cut with the generators at a time when we had no leverage.
Quotation of Gray Davis
David Freeman, who I hired to negotiate contracts with the energy companies... said it would be very detrimental to release the terms, the specific terms, of a contract, because the next person is not going to offer us a better deal than the contract we just put in the newspaper.
Quotation of 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.
Quotation of Gray Davis
First of all, I think the entire amount of money owed Duke is in the $100 million range. That may sound like a lot, but given the huge sums of money these people make, it really isn't.
Quotation of 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.
Quotation of Gray Davis
I am working my tail off to make sure the ratepayers are not on the hook.
Quotation of Gray Davis
I did that on purpose, because I do not want to shock our economy into a recession, and I do not want an outraged citizenry to pass an initiative that would eliminate deregulation.
Quotation of Gray Davis
I don't know if I would do this if I had to start over again.
Quotation of 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.
Quotation of Gray Davis
I have no idea what Duke promised. But trust me, we will not do anything that is the slightest bit unseemly. We'll not call off any investigations.
Quotation of Gray Davis
I have not been briefed.
Quotation of 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.
Quotation of Gray Davis
I'm determined to do two things - keep the lights on, and keep the rates reasonable. And to do the latter, I have to pursue every avenue available to me to investigate and pursue any claims against the generators for unjust charges.
Quotation of Gray Davis
I'm doing my part, building plants at a record rate, having historic conservation levels. The only people not doing their part is the federal government that is siding with the energy companies against the interests of the people of California.
Quotation of Gray Davis
I'm here to solve a problem. The problem is getting reliable electricity at affordable rates, and I'm going to have essentially a blended solution, which will include the creation of a public power authority that will be the builder of power plants of the last resort.
Quotation of Gray Davis
I'm paying them if they conserve 20 percent, and we are paying them if they put energy-saving devices in their home or their business.
Quotation of Gray Davis
I've only raised rates a very small portion of what the true rates are. We paid 450 percent more in 2000 for power than we did in 1999. Therefore you would need a rate increase of a commensurate nature.
Quotation of Gray Davis
If a stock drops a certain percentage, they cease trading. If the market drives 500 points, they cease trading.
Quotation of Gray Davis
If that initiative were to pass, investment would be withheld, and it would take years and years longer before we had a surplus of power.
Quotation of Gray Davis
It certainly doesn't help if you have to spend 450 times for a loaf of bread or for any other staple of life. Electricity is an essential of life.
Quotation of Gray Davis
Meanwhile, people have to join us and fight back against the federal government that has dropped the ball, that is in bed with these energy companies, that wants them to make more money than they've made before.
Quotation of 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.
Quotation of Gray Davis
Once a regulatory agency finds that the market is dysfunctional, which they did last summer, and the rates last summer were unjust and unreasonable, it just should just refund the excess profits. That's what the law requires them to do.
Quotation of Gray Davis
"Problem," meaning fattening the balance sheet of already enormously wealthy energy companies.
Quotation of Gray Davis
So ask yourself, why are we paying these energy companies so much more money for the electrons we bought two years ago for $7 billion?
Quotation of Gray Davis
So it was flawed in that it didn't require California to have a first claim on the power plants. It deregulated part of the market, but not all of the market.
Quotation of Gray Davis
Texas has not even gotten into deregulation. Nevada has stepped back. Several western states have decided they'll just wait. So if they want to jeopardize their entire American market, that's what they're risking by not being part of the solution.
Quotation of Gray Davis
That was a Trojan horse, and that had more holes than a piece of Swiss cheese. All a generator has to do is sell it to a middle person who can sell it to a public power authority, and there's no application to the generator as to what price they can charge.
Quotation of Gray Davis
That we are doing the level best we can to make sure power is available, and to minimize hardship and to call on everyone to conserve to their utmost ability - and to make it financially attractive to them to conserve.
Quotation of Gray Davis
The authority that oversees them - the Federal Energy Regulatory Commission - has said that their rates are unjust and unreasonable. So they found these people guilty a year ago - they just haven't agreed on the sentence.
Quotation of Gray Davis
The generators have made more money than God. I mean, they've made 700 percent, 800 percent, 900 percent profit. They haven't improved the service. They haven't improved the product.
Quotation of Gray Davis
The problem is the price problem, which is entirely in the federal government's jurisdiction. We can't control it, and the federal government has been siding completely with the big energy companies in Texas, and not with the public in California.
Quotation of Gray Davis
There are several states in this country that have stepped back from deregulation, because they see the pain inflicted in California, and they don't want it.
Quotation of Gray Davis
There are so many scenarios here. We tried to prepare for the worst summer in 40 years and build assumptions based on that. We're preparing for the worst, but we're hoping for the best. And I've told people the end is in sight.
Quotation of Gray Davis
There is only one governor, and his name is Gray Davis.
Quotation of Gray Davis
There's no question that California, in the last three or four years, has been privileged to add disproportionately to the economic growth of America, and to contribute to its technological productivity.
Quotation of Gray Davis
These people have made hundreds and hundreds and hundreds of millions of dollars of profit off of California alone.
Quotation of Gray Davis
They did not ask for deregulation. They should not be viewed as the sole source of solving this problem. I don't want them to pay a disproportionate burden.
Quotation of Gray Davis
They're just selling us back our own electrons that are sitting here in California.
Quotation of Gray Davis
They're the Federal Energy Regulatory Commission, and they will not do that. They will not pull the trigger.
Quotation of Gray Davis
We believe you will not have to pay more than the current rate structure proposes - which is, for 50 percent of the public, nothing; for another 25 percent, only a 10 percent increase; and for the remaining 25 percent, a 34 percent increase.
Quotation of Gray Davis
We need a circuit breaker to make sure that the rough edges of deregulation do not work a hardship on any citizen of this state.
Quotation of 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.
Quotation of 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.
Quotation of Gray Davis
We're going to march on Washington with a host of Republicans, Democrats, business leaders, legislators.
Quotation of Gray Davis
We're not going to take this sitting down. We are fighting back.
Quotation of 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.
Quotation of 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.
Quotation of Gray Davis
What I'm trying to do is protect the 34 million people of this state to make sure they have reliable power at affordable rates.
Quotation of Gray Davis
Why? Because we're very well down this process as it is - flawed as it is - and we're counting on getting more power plants on line by the end of 2003 so we have a surplus of power.
Quotation of Gray Davis
You're going to have to have a very substantial reduction of what you expect to pay us back - otherwise you are jeopardizing the whole future of the deregulation experiment.
Quotation of Gray Davis