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To: asenna1 who wrote (171482)	8/15/2001 10:01:15 AM
From: DavesM	Respond to of 769667

re: "SMUD sold the State limited quantities of energy during brief on-peak, super-peak and emergency-shortage hours, as compared to private generators..." I thought that during the period in question, at "emergency-shortage hours", the FERC had set a price cap of $250 per MWhr (in June my understanding the cap extended to all hours not just power emergencies). Does this mean that the price cap only applied to "private generators"?

To: asenna1 who wrote (171482)	8/15/2001 11:28:33 AM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 769667

CATO misleading? The reference was to prices charged not amount. The Cato article did not discuss the amount of power each provider sold. Anyway, why would SMUD charge such a high price when it's costs were low? Why were these "friendlies" getting top dollar? Someone has posted the amounts of power sold to CA. LADWP was a, considerably larger supplier, what about them? Well, the whole issue is the bidding system was encouraging high bids, insisting on them even and was successful.;)