Yesterday, Willamette Week unveiled secret documents from the Texas Pacific Group that outline their plans for massive layoffs, service cuts, rate hikes, and a rapid-fire sale of Portland General Electric to non-local ownership.
The Tahoe documents show that Texas Pacific plans wholesale layoffs and dramatic cuts in maintenance. The firm plans to sell the utility in five years for a huge profit. The records also show that Texas Pacific's exit strategy makes it highly unlikely PGE will continue as a locally headquartered, stand-alone utility.
All of that is at odds with the public pronouncements Texas Pacific and its Oregon representatives have made.
In the Oregonian, Governor Kulongoski had this to say: "I am concerned by media accounts alleging that Texas Pacific Group is delivering two different messages about its proposal to acquire PGE."
Mayor Potter went further: "If true, it's pretty disgusting. I intend to protect the ratepayers of Portland, and it sounds like they need protecting."
Portland City Commissioner Erik Sten, who has proposed public ownership, told the AP "This whole proposal is based on false promises and scare tactics. It's been an insult to the intelligence of Oregonians from day one and it shows how deep their lack of regard for Oregon's interests and common sense is."