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November 1998: California Proposition 9 Opponents

Copyright © 2001 by David E. Ross

This page supplements the myth "In California, an ignorant Legislature imposed deregulation of electricity, victimizing both the investor-owned utilities and their customers" in my Energy Myths.

Contributors of $10,000 or More to Defeat Proposition 9
Atlantic Richfield, sells fuel to electric utilities $10,000
Chase Securities, investment bank $10,000
Chevron, sells fuel to electric utilities $25,000
Commonwealth Edison, Mid-West electric utility $250,000
Edison Electric Institute, electric utility trade group $200,000
Goldman, Sachs, investment bank $25,000
Hewlett Packard, electronics $10,000
Lehman Brothers, investment bank $100,000
Morgan Stanley, investment bank $250,000
New Century Services, Rocky Mountain electric utility $10,000
Pacific Gas & Electric $17,392,849
Public Service Enterprise Group, East Coast electric utility $100,000
Redwood Securities Group, investment bank $12,000
Salomon Smith Barney Inc. (and its PAC), investment bank $50,000
San Diego Gas & Electric $320,000
Sempra Energy, "The Gas Company" in California now owns San Diego Gas & Electric and also electric utilities in other states $3,926,599
Southern California Edison and its parent Edison International $17,575,331
Southern Company Services, electric utility in south-eastern U.S. $50,000
Texaco, sells fuel to electric utilities $10,000

Bold indicates utilities and oil companies.

Of more than $40,300,000 raised to defeat Proposition 9 and thus keep deregulation, 99.9% was in donations of $10,000 or more. The consumer groups that supported Proposition 9 raised a little more than $1,400,000, 5.3% of which was in donations of $10,000 or less. The total dollar amount of those "small donations" in support of Proposition 9 were actually 63% greater than the "small donations" opposed to it. With only 3.4% of the funding, the supporters did receive over 26.5% of the votes.

Source: California Secretary of State