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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (56314)	1/10/2001 3:33:10 PM
From: flatsville	Read Replies (1) \| Respond to of 436258

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. Yes, your are not getting through because you fail to understand that this cap issue is relative and there is a history here that CA users won't ignore. What makes you say "the caps were artificially high"? Weren't the rates capped in 1996? When there was 30% overcapacity? Yes, they were capped then. So they were "artificially high" at that point in time. That was how the deal was cut. Stupid, no? But, it looked pretty good to the utes then. They stood to make real $$$ while recovering their stranded costs at an even faster rate. Consumers suffered with "artificially high" caps relative to the cost of electricity to the utes for the first couple of years while the utes rake in the dough. And users didn't get their average 10% reduction in rates as promised. As portage noted it was more like 3%. Now the tables have turned and the utes are suffering with "artificially low" caps relative to the cost of electricity to them and the utes are screaming like stuck pigs. The utes want a bond bail-out paid financed by fees to the user (on top of the fees the users are paying on the initial bonds that got this whole "dereg" mess started.) Consumers say, "GFY. You gonna give us a refund for the years you raked in the dough? No? Too bad, so sad for you." When have the caps for Pacific Gas and Electric and Edison Pacific ever been changed? Caps were moved up in Dec. to tease a plant back on line per one of the articles I posted. I don't recall which/whose plant miraculously solved their repair problem in response to the raised cap.