Subject: Fwd: Potential Bankruptcy Petition Against SCE
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Date: Fri, 16 Mar 2001 01:46:00 -0800 (PST)

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Subject: Potential Bankruptcy Petition Against SCE
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Generator to sign bankruptcy filing
Report says Coram to sign petition against SoCalEd
By Myra P. Saefong, CBS.MarketWatch.com
Last Update: 6:43 PM ET Mar 15, 2001

TEHACHAPI, Calif. (CBS.MW) -- Independent electricity generator Coram Energy 
Group said it will sign a bankruptcy petition Thursday against Southern 
California Edison, according to a published report.

The petition is being circulated among five other "qualifying facilities," 
also known as small generating plants, Coram owner Brian O'Sullivan told Dow 
Jones Newswires.

O'Sullivan said his company is running out of cash and will have to shut down 
operations in about a month, according to the report. Coram Energy, which was 
one of several renewable power generators that formed a creditors' committee 
in February, produces wind energy at three locations in Tehachapi, Calif.

The petition could be filed in a Los Angeles bankruptcy court as early as 
next week, the report said. The move could prompt the start of involuntary 
bankruptcy proceedings against the utility owned by Edison International 
(EIX: news, msgs, alerts) .

The report also said FPL Group (FPL: news, msgs, alerts) , owner of several 
qualifying facilities in SoCal Edison's area, may also join the group.

Southern California Edison and another of California's big utilities, Pacific 
Gas & Electric (PCG: news, msgs, alerts) , have combined debts of more than 
$13 billion. Both suffer from having to pay high wholesale power prices to 
supply electricity to their customers who pay retail rates capped by state 
regulators below actual costs.

Myra P. Saefong is a reporter for CBS.MarketWatch.com in San Francisco.