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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (47438)12/14/2000 12:02:47 AM
From: pater tenebrarum  Read Replies (2) of 436258
 
Joan , i agree...a huge margin squeeze is underway.

btw, in the 'deregulated' California power market, the utilities are faced with HUGE price increases for the electricity they have to buy, while the price to residential customers is fixed...the losses go into the billions by now. some suppliers demand cash on delivery, fearing imminent bankruptcies. the average cost of electricity to these utilities this month has spiked 11-fold over last year's levels, with peak prices exceeding last year's by a factor of 38. that's hyperinflation.
the banks seem to be the destined bag holders here, as they keep lending money to PG&E and EIX so they can keep financing these purchases. i wonder what happens when the banks say enough?

good night...
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