California approves Think Tank on global warming
Commission President Michael Peevey pushed the plan approved to create the California Institute for Climate Solutions. It is envisioned to bring together academic and private laboratories to quickly find ways to cut greenhouse gas emissions.
Electric and gas utilities regulated by the state commission are to fund the program by collecting $60 million a year for 10 years. Peevey said the surcharge would add 25 to 30 cents per month to bills of the customers of private utilities such as Pacific Gas & Electric.
The commission doesn't have the authority to assess the surcharge on customers of government-owned utilities, he said.
Gov. Arnold Schwarzenegger and environmental groups supported the project, while some lawmakers and consumer groups had lined up against it, calling it an unfair tax.
The plan does not require approval of the governor or Legislature.
Under the plan, the institute must raise matching funds.
Board member John Bohn was among those wary of the plan, saying it pushes the boundaries of the board's legal jurisdiction "almost to the breaking point." But he wound up voting for it, saying it could make positive contributions.
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Peterborough Distribution sold to Hydro One for $105 million.
PETERBOROUGH - The City of Peterborough said Wednesday it has agreed to sell Peterborough Distribution Inc. to Hydro One for $105 million.
The deal requires the approval of the Ontario Energy Board.
According to the city, the deal includes a one per cent distribution rate reduction and a five-year freeze in distribution rates for customers, plus:
- A second five-year period with distribution rate increases limited to inflation and an earnings sharing mechanism to offset rates in year 11 and onward
- Protections for PDI employees with employees receiving employment offers to move to Hydro One
- A sale price of $105 million
- An agreement to develop a regional…