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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Square_Dealings who wrote (40228)	1/7/2001 1:34:35 PM
From: Jack T. Pearson	Read Replies (2) of 42787

In California, the power companies like PG&E are prohibited from entering into long-term contracts for power. Power demand now exceeds supply. It takes years to increase supply--applications, public hearings, environmental impact assessments, public hearings, transmission line routing, public hearings, court challenges, etc. It only takes a cold snap or a heat wave to significantly increase demand. Power companies must buy power at market rates (about 25 cents per KW-hr) and sell as much as consumers and individuals want at rates between 5 and 12 cents per KW-hr. Banks are loaning money to cover the difference. The public utilities commission just granted the power companies a 10-15% increase in the prices they can charge (not enough to significantly increase demand). Now the power companies will only lose 19.5 cents instead of 20 cents per KW-hr. Many communities won't be able to get enough power at any price because they have groups that are blocking the building of transmission lines. This problem will effect everyone in the country one way or another before it is over.

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