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: DMaA who wrote (162317)	7/18/2001 11:28:21 PM
From: DMaA	Read Replies (1) of 769668

This whole state's dummer'n Bush: July 19, 2001 California's New Problem: Sudden Surplus of Energy By JAMES STERNGOLD OS ANGELES, July 18 — After months of grave warnings about power shortages and forced blackouts, an unusually cool July and surprisingly effective conservation efforts have put California in a stunningly unexpected position: it has so much electricity on its hands that it is selling its surplus into a glutted market. . . . Oscar Hidalgo, the spokesman for the Department of Water Resources, which became the state's main buyer of power after soaring wholesale prices pushed private utilities toward bankruptcy this year, would not provide exact figures on how much the state was selling or how much money it was losing. But the department has said that it was paying on average $133 per megawatt-hour this month, much of which it is obliged to buy whether it needs it or not, under long-term contracts signed in recent months. By contrast, officials say, the department at times has sold some of that power back into the market at prices as low as $15 per megawatt-hour. nytimes.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next