SI
SI
discoversearch

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 ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Raymond Duray who wrote (296714)9/14/2002 1:10:24 PM
From: DavesM  Read Replies (2) of 769667
 
Ray,

Delbert specifically mentions the price spikes that occurred the summer of 2000. By the summer of 2001, the crisis was over. I don't believe Delbert's quote was a typo.

Before GWB became President: The FERC had rejected regional price caps on electricity (Dec 2000 or early January 2001 under Chairman Hoecker, 3 Democrats and 1 Republican voting FERC members). SCE and PG&E had been downgraded by Moody's. PG&E and SCE had announced that they could no longer pay creditors, and PG&E defaulted on bond payments. PG&E told the state that they could no longer purchase natural gas for customers. The cost of purchasing NOx credits (according to the South Coast Air Quality Management District added as much as $300 to the price of a megawatt of electricity). November 2000, December 2000, and January 2001, the average price of wholesale electricity jumped to new highs (above previous highs seen in August). All this occurred before Cheney became the Vice President.

I also believe that CA did not have a shortage of Capacity, but only if you were willing to lift air pollution restrictions placed on the operations of large diesel generators and peakers. But if you are talking about affordable, (relatively) clean power, there was a shortage of capacity in CA (especially at 2000 consumption levels).
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News