We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : The California Energy Crisis - Information & Forum

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: deepenergyfella who wrote (304)5/16/2001 5:26:47 PM
From: Raymond Duray  Read Replies (1) of 1715
Hi def,

Thanks for the link to the SacBee analysis. I thought I was jaded, but my chin still dropped when I read the end of the article about the fact that the Mwh bids were rigged to $5,000, $9,999 and $0.01 in 1998. It amazes me that this huge red flag didn't attract the interest of the C-PUC, FERC or anyone who could see the implications. Of course, the T.U.R.N. crowd and the other consumer advocate types made this clear way before the fact, I read about this potential in 1996 in the Bay Guardian newpaper. But, no one in power had the least bit of interest in listening. This appears to still be the case today.

I'm currently reading a small book titled "The Last Energy War", by Harvey Wasserman. It was written in 1999 and is prescient about the events of the past few months. Here's a quote concerning what de-regulation intended to do for the IOUs (investor owned utilities):

"Immensely complex in its detail, AB1890's [the electric power de-regulation bill] executive summary in essence reads like this:

* Unload on the public bad reactors and other failed investments, including obsolete fossil burners,

* Grab huge sums of cash,

* Co-opt and avoid green/consumer activism,

* Preempt big industrial co-generation,

* Cripple solar and efficiency,

* De-unionize."

Generally speaking, the IOUs have essentially accomplished all goals. Incidentally leaving the shells of their operating companies, slow-witted investors and the California energy market in a shambles. Job well done, boys.

Ray <no smile>
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext