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PG&E selling 4 power plants

Issue 1 and Volume 101.

PG&E selling 4 power plants

Pacific Gas and Electric Co. (PG&E) has announced plans to sell four power plants–Hunters Point in San Francisco, 426 MW; Oakland, 153 MW; Morro Bay, 1,002 MW; and Moss Landing, 1,478 MW. The sale will comply with a directive from the California Public Utilities Commission that California utilities divest at least 50 percent of their fossil-fueled power plants.

PG&E is seeking to sign sales agreements with buyers before the end of 1997, according to Stanley T. Skinner, PG&E chairman and CEO. Potential purchasers are expected to include other electric utilities, independent power producers, power marketers, and oil and natural gas companies.