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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DavesM who wrote (235568)	3/8/2002 7:49:44 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 769670

Hi Dave, LOL! I attended the annual meeting of Central Electric Co-op, my electric utility up here today. A very interesting bit of news to me is that many of the region's publicly owned utilities have had to sue BPA because BPA over-committed itself to sell 10,300 equivalent Mwh while it had generating capacity of 7,000 Mwh. This has cause no end to grief. Last October, BPA raped us with a 56% rate increase to cover their cost of buying power on the open market to make up the shortfall. The suit is currently in front of the U.S. 9th Circuit, and it appears that BPA is going to get nailed for "exceeding contractual authority". I hope we can put the BPA administrator behind bars. He's a crook just as much as Ken Lay is. There's an old Wall Street expression that applies here: "He who sells what isn' hisn', must make it up or go to prison." -Ray