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

To: Les H who wrote (60337)	1/22/2001 11:12:33 AM
From: Oblomov	Respond to of 436258

good top indicator...

To: Les H who wrote (60337)	1/22/2001 11:29:16 AM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

<<California to go long electricity on forward contracts>> No way will they get any significant sales at that price. The producers variable costs are too uncertain to be able to make long term guarantees at $55/MWhr. At $80 he might have gotten a few bids... There is no guarantee that the governor will find anyone to sell him electricity ahead at $55 a megawatt, a number he seems to have pulled out of thin air. But assume that he does find sellers at his price. Assume also that he could buy a great deal of electrical power so as to match a year's worth of future consumption. Think what this means. If in the future, the price of electricity rises or at least stays at some level greater than $55 per megawatt hour, the governor's trades will be in the money -- he will have reduced California's costs. I wonder if Hillary is advising him on his newfound avocation (commodity trading)?<G>