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To: flatsville who wrote (56288)	1/10/2001 2:52:49 PM
From: Ilaine	Read Replies (1) \| Respond to of 436258

>>Pacific Gas and Electric and Southern California Edison utes were doing quite well when the caps were "artificially high" and it was the consumers who were suffering relative to the cost of electricity to the utes.<< Flats, you keep saying this, and I THINK I keep pointing out to you why you're wrong - I guess I am not getting through. What makes you say "the caps were artificially high"? Weren't the rates capped in 1996? When there was 30% overcapacity? When have the caps for Pacific Gas and Electric and Edison Pacific ever been changed? The LA Times reports that >>Spot wholesale electricity prices at peak summer demand rose from $49.56 a megawatt-hour in 1999 to $522.55 in 2000. The average wholesale electricity price has risen tenfold.<< Pacific Gas and Electric and California Edison buy on the spot market when they can't meet demand. They've been squeezed since summer, 2000, when demand exceeded supply.