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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (145929)	9/16/2014 12:24:46 PM
From: pcstel	Read Replies (1) \| Respond to of 149317

<California had an installed generating capacity of 45GW. At the time of the blackouts, demand was 28GW. A demand supply gap was created by energy companies, mainly Enron, to create an artificial shortage. Energy traders took power plants offline for maintenance in days of peak demand to increase the price. [9] [10] Traders were thus able to sell power at premium prices, sometimes up to a factor of 20 times its normal value. Because the state government had a cap on retail electricity charges, this market manipulation squeezed the industry's revenue margins,< Great.. Now we are talking FACTS. Not Politics.. The reason why prices escalated was due to the fact that they (Enron/Rellient) knew that the providers PG&E's and SDG&E's had to purchase the electricity no matter how much it cost, and that demand was not responsive to the changes in pricing, because the providers were regulated by a price cap. So there was illegal price manipulation that was caused by unintended consequences of State Govt. regulations. Here are more unintended consequences of Federal Government regulations... youtube.com PCSTEL