Edison Threatens Legal Action Against Corona using California State Money

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Edison Threatens Legal Action Against Corona using California State Money

Source: TheTip, 2002-11-01

Candidate: Big Business

Corona officials formally announced plans Thursday to consider taking over the poles, wires and two substations Edison now uses to deliver energy to its 37,000 customers in the Riverside County city of 130,000. Initial studies value the property at $70 million to $130 million, Corona Mayor Darrell Talbert said.

Talbert said the announcement was the first step in a process to create a municipal utility. He said the city would release a detailed feasibility study Tuesday and could present an offer to Edison as early as December.

Promising savings and a more stable energy environment, Talbert said initial studies show that "the day we take over ... we can deliver power to our residents and businesses at least a 15% savings over the current Edison rates." The savings, he said, would come largely from the city's lower overhead and tax-exempt status.

But despite the financial failings of Edison this past year, Edison threatened to take up a lawsuit on the order of $10,000,000 to fight the effort.

This $10,000,000 would come out of a LOAN offered to the utility by the State of California, in essence allowing the utility to fight the taxpayers using taxpayer money.

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