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To: Haim R. Branisteanu who wrote (257508)	8/24/2003 6:42:04 PM
From: yard_man	Respond to of 436258

I also think there was this Myth of inefficiencies in wholesale power exchange. Many economists who thought that electric transmission was similar to phone traffic came up with all kinds of lovely theories divorced from reality -- then they ignored the fact that the mix of players in the markets was already pretty good from a wholesale standpoint ... sure there might have been an additional 3-4% of efficiency that could be squeezed out, but getting to it -- that's the trick -- without damaging all the positives built into the system.