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Pastimes : The California Energy Crisis - Information & Forum

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To: deepenergyfella who started this subject	9/18/2002 3:44:53 AM
From: portage	Read Replies (1) of 1715

It's pretty amazing, Raymond, in spite of all the manipulation and theft that went on, FERC is pushing its way toward a national grid with few entities with any power to oppose it. Meanwhile, PG&E's ploy to escape PUC regulation and ring fence their assets, and shift even more assets away from state control through their bankruptcy seems to be working. Of course the creditors love this, because they'll be able to recover all that was "lost" (i.e. windfall profits) and more, by taking the consumers out of the picture and jacking up rates under FERC control. PG&E will shift much of the profits to the out of state parent corp. to start more misadventures elsewhere, while allowing the California power infrastructure rot from neglect. Power companies should be power companies, not derivative gambling financiers. As usual, the corporate heads lie, saying they have no plans to sell off their assets. Watch PG&E sell their hydro plants and timberlands to Charles Hurwitz or some other Texas f*cker after the dust has had a little time to settle.

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