PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: TigerPaw who wrote (293210)	9/4/2002 10:18:59 PM
From: DavesM	Read Replies (1) of 769667

Once again you are wrong. Davis entered into long term contracts, because he Declared a State of Emergency, took emergency power, and threw away the law (State energy deregulation plan). Since Enron did not produce any power in California, there was probably no need for Gray Davis to enter into any contracts with them. One of (if not the) first vote of GWB's FERC appointees made after being sworn in, was to place a firm price cap on electric power in the entire Western Region. The price cap was set to be no more than (I believe) $90/MWhr (June 2001), which took away the incentive to game the market. The price cap is till in effect. I do believe, that the University of California, did entered into long term electric energy contracts with Enron, and as a result had much lower rates than the rest of the State (per MWhr).

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