Quote:
Originally Posted by billy ross
That third party stuff is speculative, and it refers to the remaining $800 million. It may or may not happen. I don't believe it refers to the $400 million which has come due - it is my understanding that PGW plans to cash flow its way out of that, and that it has already gotten the emergency rate increase to pay part of those increased principal payments. It seems to have found the remainder in its present budget, partially through skimping on capital expenditures. It's a balancing act, and I am finally glad to say that we seem to have competent people in there. It was such a mess for so long that we're not going to come out of it overnight.
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speculative or not, it's money shuffling and it's being proposed. they need savings to come from reductions in operating costs, not maintenance. That's not to say things aren't better at PGW, of coruse, if they had gotten worse, it would have been in bankrupcty.