Southern California Edison has paid $105 million in back payments to local geothermal company CalEnergy as Edison's financial status is on the mend.
We are hopeful the payment ushers in a new period of cooperation between Edison and CalEnergy and all other renewable energy providers so as the summer grows near the state can continue to recover from its energy crisis.
During the legal battle between CalEnergy and SCE, we supported CalEnergy in its efforts to receive the back payments it was owed by the utility. We continue to stand by CalEnergy, which is an important cog in our area's economy. Much was at stake in regard to the payment and the $105 million owed to CalEnergy was no small amount.
CalEnergy officials now say they can focus on helping meet the state's energy needs, creating price stabilization and diversifying the energy resources available to the state. We would hate to see any more legal battles get in the way of that.