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Pastimes : The California Energy Crisis - Information & Forum
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To: DavesM who wrote (402)6/6/2001 11:48:11 PM
From: Raymond Duray  Read Replies (1) of 1715
 
Good news:
California Electricity Consumption falls 11 Percent in May (compared to last May)

In other good news in the California energy zoo, hour ahead wholesale prices slipped below $100/Mwh for the first time this year.

And even more good news. The AGA reported new natgas in storage up 117 BCF this latest reporting period. Seems that there is going to be less upward pressure on gas prices for a while. Today natgas trading was very subdued, in a range from about $3.87 to $3.91/MCF. I feel so badly for those adrenalinized traders who had to sit on their thumbs all day long. It must just be so boring for them...... <gg>

Anecdotally, I ran into a buddy yesterday who had just come back from a California trip. He visited a relative in Merced who was conserving like crazy. She said that the household policy was to turn on the AC when the house got to 90 degrees inside. At 89 degrees, my friends wife couldn't bear it any longer and offered to pay whatever it cost to turn on the AC for the duration of their visit. Californians may be conserving, but they're also sweltering. As I said, Ken Lay and his pal in Washington are imposing a "good sweating" on the state of California. California's pols never should have built up that prudent rainy day surplus. It was just too tempting a pot o' gold for the smart money to try to capture. Hehe.

Ray :)
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