BANKRUPT CALIFORNIA UTILITY SHEDDING MORE THAN $40 BILLION WORTH OF GREEN ENERGY CONTRACTS

By Tim Pearce

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Pacific Gas and Electric (PG&E) may shed more than $40 billion worth of power purchase agreements after the California utility was driven into bankruptcy by liabilities for sparking deadly wildfires, The Wall Street Journal reports.

PG&E wants the U.S. Bankruptcy Court in San Francisco to rule whether the company must honor $42 billion worth of contracts with about 350 different energy suppliers, mostly solar and wind plants.

The court’s decision could have a major impact on California’s renewable energy industry and power makeup. Many green energy suppliers only do business with PG&E, California’s largest utility. Shedding those contracts would likely drive those companies under and cripple California’s ability to meet energy goals set by the state government.

“A lot of companies are in that position, where PG&E is responsible for 100% of their revenues,” Credit Benchmark lead researcher David Carruthers told WSJ.

Former California Gov. Jerry Brown signed legislation in September that mandated the state run on 100 percent green energy by 2045. It also bumped a previous target of 50 percent by 2030 to 60 percent. (RELATED: What Affect Will 100 Percent Green Energy Have On California’s Neighbors?)

The goals set by government officials were optimistic before PG&E filed for bankruptcy Tuesday. California’s grid operator has paid surrounding states on several occasions to take excess power off California’s grid caused by overproducing solar and wind farms.

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The company’s plans to shed its losses to renewable energy suppliers may fail if the court rules that federal regulators, not the bankruptcy court, have the authority to deem whether such contracts still apply, according to WSJ.

PG&E filed bankruptcy as the “only viable option” to escape potentially $30 billion worth of liabilities for sparking major wildfires in 2017 and 2018. State investigators found the utility sparked a dozen major fires in 2017 through poorly maintained powerlines and equipment.

Wildfires in 2018 are still under investigation, including the Camp Fire that killed 86 people and all but destroyed the town of Paradise. The fire is the deadliest in state history.

PHOTOS: Top Democrat Donor Ed Buck With His Democrat Pals and His Black Male Prostitutes — 2 Dead Now

by Jim Hoft

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Top Democrat donor Ed Buck with: Governor Jerry Brown, Rep. Ted Lieu, In a T-shirt, Los Angeles Mayor Eric Garcetti, Rep. Adam Schiff, and Hillary Clinton.

The body of another young black gay escort was found at the West Hollywood home of Ed Buck, a top Democrat donor and and political activist.

Sheriff’s deputies are investigating after an African-American male was found dead early Monday morning at the Laurel Avenue apartment belonging to one of Hillary Clinton’s donors, Ed Buck.

There will be a rally tonight at the home of Ed Buck to call on LAPD to arrest Buck, according to WEHOVille,

Jasmyne Cannick, a communications and public affairs strategist who has worked  with Gemmel Moore’s family, has announced that there will be a rally at 7 p.m. tonight at 1234 Laurel Ave., the home of Ed Buck, to call on the Los Angeles Sheriff’s Department to arrest Buck and for District Attorney Jackie Lacey to “prosecute him for murder after another young Black gay man was found dead in his West Hollywood apartment of an apparent overdose.”

As previously reported, a black gay escort named Gemmel Moore died of a meth overdose at Ed Buck’s West Hollywood home in July of 2017.

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The LA County District Attorney’s Office previously declined to prosecute Ed Buck saying the evidence is “insufficient to prove beyond a reasonable doubt that (Buck) is responsible for the death of Gemmel Moore,” which sparked an outrage from family members and others in the community.

Ed Buck is a gay white man in his 60’s and according Gemmel Moore’s mother, Buck has a fetish for getting young black men high.

When not donating to Democrats Ed Buck liked to get black gay prostitutes high on drugs.

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Damar Love and Ed Buck (Weho Times)

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