PRESIDENT GEORGE W. BUSH Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Patricia Trinchero who wrote (146142)	5/17/2001 3:37:40 PM
From: Gordon A. Langston	Read Replies (1) of 769670

Pat What is your reaction to this. 14,000 megawatts are off-line on a daily basis and only about half are related to maintenance. The rest are generators who have contracts with the utilities. The utilities haven't paid them for a while (since about the first of the year) and so they stopped generating. They have no guarantees of being paid from either the State or the bankruptcy court. They are unable to sell their output to anyone else because they are under contract. I think they are doing this to avoid their own bankruptcy. This is the short term problem as I see it. Any comments? FERC won't let small generators out of state contracts -- yet May 17, 2001 From staff and wire reports WASHINGTON Federal energy regulators stopped short of letting small power generators in California get out of existing contracts with utilities that cannot pay, though they said they will revisit the issue. The Federal Energy Regulatory Commission extended waivers to allow small generating facilities to shift their power elsewhere in the event that a judge orders they can break their contracts. "The commission is not acting unilaterally to abrogate existing contracts," FERC Chairman Curt Hebert said. He said the FERC was following the wishes of Gov. Gray Davis. Some generators in the state aren't operating at full capacity because they haven't been paid. Davis wrote to Hebert this week asking the commission to hold off on allowing the generators to break their contracts until the state has a chance to work things out with generators. Officials of Southern California Edison, the state's second-largest utility, also urged the FERC not to intervene, saying any remedy that lets generators refuse to sell power to utilities that can't pay will prompt generators to sell their electricity elsewhere. ocregister.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next