PG& E Utility Unit Seeks Power Supplies
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PG&E; Corp.’s Pacific Gas & Electric Co. unit, California’s largest utility, made requests for power supplies from outside producers and from plants the company would buy, breaking with the state’s failed deregulation plan.
The requests are for 1,200 megawatts that would be added by 2008 and an additional 1,000 megawatts by 2010, the San Francisco-based utility said. The new supplies would be enough power for about 1.7 million typical U.S. homes.
California utilities were required to shed most of their power plants under the state’s 1996 deregulation law to reduce market share and foster competition.
PG&E; shares rose 63 cents to $32.20 on the NYSE.
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