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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: flatsville who wrote (57906)1/16/2001 8:54:20 PM
From: Mark Adams  Read Replies (1) of 436258
 
Per this article, the base problem for the power generators is not greed, but the higher price of the raw input for CA electricity, NatGas:

But is this new regulatory regime the cause of the fivefold increase in California electricity costs? Hardly. While it did make things worse, the primary culprit is the high price of natural gas. Since November, the spot price of natural gas in Southern California has risen 600 percent over the 1998-99 average. And because 90 percent of the marginal cost of natural gas-fired electricity is fuel cost, the marginal cost of electricity would have to spike from 3 cents per kilowatt hour to above 15 cents per kilowatt hour to cover costs. That is what's happened at the wholesale level.

chron.com

Worth reading, but mostly stuff already known to this thread
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