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To: nextrade! who wrote (35)	6/6/2002 4:17:38 PM
From: LPS5	Respond to of 2534

Report Finds No Evidence of Power Pricing Scheme against New England Consumers Boston, Massachusetts/June 6, 2002/ -- The organization that oversees New England's electric grid and wholesale power market said yesterday that a new report has found no clear evidence that power-generating companies have successfully schemed to drive up prices paid by consumers. The study by David B. Patton of Potomac Economics Ltd., an independent market adviser to grid managers ISO New England, addressed whether occasional spikes in wholesale power prices last year could have been caused by generators withholding supply by shutting down plants or limiting their operation. Patton said his study "cannot exclude the possibility that discrete instances of physical withholding occurred via specific outages or deratings," meaning companies such as Northeast Utilities, PG&E, Sithe, and Mirant said they could produce only limited amounts of electricity from their plants in hopes of jacking up prices. But, Patton said, "New England markets have been workably competitive [with] little evidence of persistent economic or physical withholding." He said it will remain crucial for the Holyoke-based independent system operator, or ISO, to monitor the wholesale market and unilaterally cut prices when it appears they have been driven up by manipulation.