One Utility No Longer Fits All
While the share prices of the two large investor-owned California utilities, Pacific Gas & Electric Corp. (PCG ) and Edison International (EIX ), have tanked during the Golden State's power crisis, other utility stocks seem to be on a roll. Since early January, when PG&E and Edison plunged to lows of $9 and $6.25, respectively, the Dow Jones utilities index has actually increased by a healthy 5.9%. PG&E and Edison's shares have come back somewhat in the past month, too, but they still trade at only a fraction of their peak prices last year.
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