PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DavesM who wrote (293399)	9/5/2002 11:49:23 AM
From: TigerPaw	Read Replies (1) of 769667

The FERC under the Bush Administration instituted a PRICE CAP Cheney's FERC with Junior's aquiecence only put a price cap in place to lock in a high price for futures contracts. Gray Davis' insistence on getting secured supplies was going to disrupt the gaming. I think the thought was that the companies would be satisfied with the vastly higher guarenteed profits, but locking the most crooked players out of the game brought it to an abrupt end. time.com ISO chief Terry Winter. On Dec. 8 of that year, Winter's stamina was exhausted. He wrote to the FERC asking for price caps to be lifted. Result: the price of a megawatt hour, which was $43.80 at the beginning of 2000, skyrocketed to $292.10 by the end of it. Death Star had struck. The FERC imposed price caps again in June 2001, which allowed Davis to renegotiate those long-term contracts. TP

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