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Gold/Mining/Energy : CPN: Calpine Corporation -- Ignore unavailable to you. Want to Upgrade?


To: deepenergyfella who wrote (7)1/15/2001 10:48:59 PM
From: General Crude  Respond to of 555
 
From CBS Marketwatch:

SAN FRANCISCO (AP) -- Despite the threat that California's energy
crisis could make communities across the state go dark, many residents
still resist construction of new power plants in their neighborhoods.

A proposed power plant that has drawn fire in San
Jose is just a bad idea, says resident Elizabeth
Cord, even though she lives three miles from the
site.

"It's an inappropriate location. I think there are
many other locations throughout the Bay area and
the state," said Cord. "Of course, they're playing
this to the hilt, that we need it, but the facts don't
bear that out."

Wholesale power prices have increased fivefold in
California since summer, accompanied by a series
of drops in the state's power reserves. The state
already has spent roughly $30 million buying
electricity in the past month to stave off rolling
blackouts.

And California's two biggest investor-owned
utilities, Pacific Gas & Electric Co. and Southern
California Edison, say they have lost more than $9
billion because the state's 1996 deregulation law
prevents them from passing the higher electricity
prices on to their customers.

Many communities worry about pollution from new plants, but advocates
say they can be cleaner than existing industries.

Jerry Martin, a spokesman for the California Air Resources Board, said a
550-megawatt plant planned for Los Angeles County would be very clean
for an operation of its size.

"It would be put in an area near a big warehouse," Martin said. "It's
estimated that the plant would be cleaner than the warehouse, with its
diesel trucks going back and forth. It's still being heavily opposed."

In San Jose, the heart of Silicon Valley, the city council has rejected the
proposed power plant near Cisco Systems Inc.'s 688-acre corporate
park in Coyote Valley in part because the site is too close to residential
neighborhoods.

"There is still too much uncertainty about the local air quality impacts,"
said city spokesman David Vossbrink. "We're not opposed to it if a good
practical site can be found that's not a detriment to our neighborhoods or
environment."

The California Energy Commission, which licenses new power plants and
is considering 14 new ones statewide, endorsed the proposed San Jose
plant in October and could effectively overrule the city council's land-use
ruling.

The commission has licensed one power plant against a community's
wishes. However, that plant in the Hunter's Point area of San Francisco
never was built because the land could not be obtained.

The commission also overruled a local jurisdiction in Northern California
near the Geysers geothermal power plants after local authorities had
refused power line access.

"It very seldom happens," said Rob Schlichting, a spokesman for the
energy commission. "We prefer to make everybody happy if we can."

In San Jose, Vossbrink said the state should concentrate on bringing all
existing power plants on line. About a third of the state's generating
capacity is out of service for various reasons, including maintenance.

"It's not about a single plant in San Jose," he said.

But Schlichting said more plants are still needed. Sixty-five percent of the
state's power plants are more than 30 years old, meaning they need to be
shut more frequently for service, and the trend is to replace them with
new, cleaner, more efficient power plants.



To: deepenergyfella who wrote (7)1/16/2001 10:32:35 AM
From: fastcats  Respond to of 555
 
I'm for consolidation. No preference for which board.



To: deepenergyfella who wrote (7)1/17/2001 12:47:51 PM
From: Drake  Read Replies (2) | Respond to of 555
 
deepenergy, why does CPN have such a low PEG = .62?

(Based on 01 earnings and 41%growth/year for next 5 years)

dc