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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: heraclitus who wrote (55013)	1/6/2001 6:06:17 PM
From: Ilaine	of 436258

Richardson's order doesn't really require the other utilities to sell at $64 per megawatt order - it says if the parties can't agree to a price under $64 then the price will be determined at a later time by FERC. energy.gov FERC is opposed to price caps. California just yesterday lost an emergency appeal to the DC Circuit Court of Appeals to get FERC to impose a price cap. >>Meanwhile, the D.C. Court of Appeals Friday denied SoCal Edison's request for an emergency order requiring federal regulators to set cost-based rates in the state's troubled electricity markets. In its petition late last month, the company contended that without the order there would be blackouts and if the court didn't act by Friday, "it is likely by mid-January that Edison will be unable to finance its continued purchases of electricity." The Federal Energy Regulatory Commission ruled Dec. 15 that California's power woes were the result of a flawed market structure, determining that wholesale power prices in California were "unjust and unreasonable." However, the agency didn't order compensation to the utilities, instead setting a soft price cap of $150 per megawatt hour for wholesale power.<< interactive.wsj.com

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