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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: BirdDog who wrote (51725)	5/19/2002 3:11:43 PM
From: Wharf Rat	Read Replies (1) of 65232

Well, there are multiple causes with blame distributed on a bipartisan basis, including lots of regulations like the one disallowing long term contracts. Nonetheless, there were a number of outside companies which made big bux, and will, at a minimum, have to refund large portions of it. So far refunds have been in the 100M range, but I think we are talking billions; I believe the state is asking for 9B, but it could turn out to be more. Also, there have been a number of renegotiations of long term contracts signed during the shortages at what was artificially inflated market price. I don't really follow this closely, but I believe CPN has already renegotiated its contracts. In addition, and this is my speculation, some of these companies may get fined. TK PS I have noticed the outside power folks are no longer running ads against the gov talking about rolling greyouts.

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