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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (54517)1/5/2001 1:43:04 PM
From: flatsville  Read Replies (2) of 436258
 
Did you actually read the article?

There are small energy traders popping up... just like the small airlines during airline deregulation.

Bad, bad analogy. Small airlines actually popped-up with planes during airline dereg. Small energy traders are not popping-up with power generating facilities or trans/dist capacity. Had you likened them to ticket resellers...well, maybe.

And my insider was talking about the East Coast. Different situation. Compared to CA he expected the EC to have plenty of generating capacity. In his opinion these guys were gonna have a license to fleece nontheless, pure and simple.

You may recall dereg was sold to the public under the ruse that we'd all be able to log on to the internet and shop the best price on electricity. Competition would foster lowere prices...My *ss.

JMO In time more generators will come into the market with these high prices. They would have come in sooner if the market were truly deregulated IMO.

I think the point of the article was to highlight that the "percieved shortage" which led to higher prices may have been artificially created given the peculiar behavior of some plants. Evidence of collusion and complicity between genrators and traders might have well taken place. Power traders apparently tried "megawatt laundering" and when it looked like they might get caught, shifted to bidding up the off-peak prices, topping out at $250 last month.

You obviously missed all that.
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