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To: flatsville who wrote (56039)	1/10/2001 10:48:52 AM
From: Ilaine	Read Replies (2) \| Respond to of 436258

>>PGE's separate trading desk (and other desks) make out like a bandit when the price caps were artificially "high" (before the last half of 2000.)<< From what I've read, no one knows any whether any of this is true, because what is paid at the auction is treated as confidential business secrets and no one is telling. So if you've got a source for this, I'd be interested in seeing it. Maybe you mean that Pacific Gas & Electric, which provides electricity directly to the consumer in California, is a subsidiary of PG&E Corp. and that PG&E Corp. had a good third quarter - don't think they've released 4th quarter EPS yet. It was the legislature that decided that the people who sold the electricity directly to the consumer couldn't produce it, they had to buy it from the auction. I think they were trying to keep the people who sold the electricity directly to the consumer from making too much money.