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Politics : PRESIDENT GEORGE W. BUSH
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To: Kevin Rose who wrote (132858)3/22/2001 2:52:09 PM
From: Gordon A. Langston  Read Replies (2) of 769667
 
3) CA got into this mess by not allowing powerplants to be built.

BS again. Who is the real 'villan' here? The power companies (to our politician 'village idiots'). The power companies have manipulated the
system to get what they want; higher prices and profits and less regulation. How did they do it? Mysterious plant 'shutdowns' that sparked
the first shortages, followed by reselling their own 'out of state' power back to CA at 10 to 20 times the regulated price. The shortages forced
Gov Davis to rescind the restrictions on PG&E and Edison to buy power on the spot market, causing them to build up huge debt (and
corresponding huge profits at Duke, Calpine, etc). PG&E and Edison ruined their credit, ran out of money, and stopped paying their
suppliers. The smaller suppliers (the ones that this 'free deregulated' market was supposed to foster) shut down their plants from lack of
payment; the larger ones further raised their prices. With Bush in office, the power companies have become very bold; they know that
'business-friendly Bush' will do nothing to stop the gouging. So, we are officially screwed.

Say you had built a power plant and were not allowed to sign long-term contracts with utilities. Your delivery of power would be sporadic and planning would be baseless. I dare say you would chose to mitigate the situation by getting the highest price you could for the occasional calls from the utilities for your product. Eventually these situations are not mutually beneficial.
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