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To: isopatch who wrote (81652)12/14/2000 1:49:02 AM
From: energyplay  Read Replies (2) | Respond to of 95453
 
Power Company Panic in Northern California -

I think the word is out - or will be when/if rotating outage blocks start.

I was going to buy some BKX put - bank stock puts -but then I looked at the individual components. VERY BIG divergence - BAC (bank of America) and FTU way down, WFC, (Wells Fargo) way up, C (citibank) in the middle.

So I'm buying Wells Fargo (WFC) puts. They have lots of small biz and technology customers, & they are mentally associated with California.

So, power goes out, can their customers pay the loans back ?

I am assuming this is a way to play area economic impact.

I'm PG&E and Wells customer in Northern California.

If I make some money, I can use it to buy my flashlight batteries...



To: isopatch who wrote (81652)12/14/2000 9:03:22 AM
From: Tommaso  Read Replies (1) | Respond to of 95453
 
If you don't let power companies recover their costs by raising rates, you haven't really deregulated anything.

I guess the idea was that this system would compel the power companies to look for the cheapest power. That's fine as long as there is cheap power to look for.

What's going on in California combines the worst features of capitalism and socialism.


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