Tom KKKunich is an idiot

from: http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20030326-001024-1149

FERC: Enron, Others Broke Rules in California

WASHINGTON -(Dow Jones)- Enron (ENRNQ) and numerous other energy companies gamed California
electricity markets in violation of FERC rules, staff of the Federal Energy Regulatory Commission
reported to Congress on Wednesday.

<snip><end>

from: http://eastbay.bizjournals.com/eastbay/stories/2003/03/24/daily26.html

FERC says California was swindled

The Federal Energy Regulatory Commission on Wednesday said California's deregulated electricity
market was manipulated by some greedy power brokers and providers, causing skyrocketing prices for
electricity, rolling blackouts and other problems leading to bankruptcy for Pacific Gas & Electric
Co., financial distress for others, and an estimated cost to the state, its businesses and residents
of $45 billion.

<snip><end

 

- and in Rome the Pope is decreed to be a Catholic.....

Cheers! Stephen

 

Always in there with the quote of what you're talking about I see. Testimoney of the FERC does not
constitute fact by the way.

"Kurgan Gringioni" <kgri[email protected]> wrote in message
news:[email protected]...
> from:
>
http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20030326-001024-114 9
>
> FERC: Enron, Others Broke Rules in California
>
> WASHINGTON -(Dow Jones)- Enron (ENRNQ) and numerous other energy
companies
> gamed California electricity markets in violation of FERC rules,
staff of
> the Federal Energy Regulatory Commission reported to Congress on
Wednesday.
>
> <snip><end>
>
>
> from:
>
http://eastbay.bizjournals.com/eastbay/stories/2003/03/24/daily26.html
>
> FERC says California was swindled
>
> The Federal Energy Regulatory Commission on Wednesday said
California's
> deregulated electricity market was manipulated by some greedy power
brokers
> and providers, causing skyrocketing prices for electricity, rolling blackouts and other problems
> leading to bankruptcy for Pacific Gas & Electric Co., financial distress for others, and an
> estimated cost
to the
> state, its businesses and residents of $45 billion.
>
>
> <snip><end>

 

"Tom Kunich" <[email protected]> wrote in message
news:[email protected]...
> Always in there with the quote of what you're talking about I see. Testimoney of the FERC does not
> constitute fact by the way.

You may remember the administration claiming several power plants were being shut down purposely to
decrease the supply but that didn't last long when it was shown that the Davis administration had
called these plants up and ordered them to shut down.

 

You know I have heard this all before. Somebody in Washington or California declares that XYZ
corporation is costing the Govt/Shareholders/State/consumers billions of dollars.

After a lot of hearing in which a lot of politicians get free publicity the charges are dropped and
nothing comes of any of this crap.

The whole investigation is more about getting photo ops and sound bites than about anything being
wrong. You are going to need a lot more evidence than has come forth to prove their case.
Personally I think that most of the damage was caused by mismanagement on the part of the
California State Govt.

"Kurgan Gringioni" <[email protected]> wrote in message
news:[email protected]...
> from: http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20030326-001024-1149
>
> FERC: Enron, Others Broke Rules in California
>
> WASHINGTON -(Dow Jones)- Enron (ENRNQ) and numerous other energy companies gamed California
> electricity markets in violation of FERC rules, staff of the Federal Energy Regulatory Commission
> reported to Congress on
Wednesday.
>
> <snip><end>
>
>
> from: http://eastbay.bizjournals.com/eastbay/stories/2003/03/24/daily26.html
>
> FERC says California was swindled
>
> The Federal Energy Regulatory Commission on Wednesday said California's deregulated electricity
> market was manipulated by some greedy power
brokers
> and providers, causing skyrocketing prices for electricity, rolling blackouts and other problems
> leading to bankruptcy for Pacific Gas & Electric Co., financial distress for others, and an
> estimated cost to the state, its businesses and residents of $45 billion.
>
>
> <snip><end

 

"Jim Quinn" <[email protected]> wrote in message
news:[email protected]...
> You know I have heard this all before. Somebody in Washington or
California
> declares that XYZ corporation is costing the Govt/Shareholders/State/consumers billions of
> dollars.
>
> After a lot of hearing in which a lot of politicians get free publicity
the
> charges are dropped and nothing comes of any of this crap.

The Bush Administration does not want this publicity. The energy industry is squarely in his camp
(both Bush and Cheney come from energy industry backgrounds).

> The whole investigation is more about getting photo ops and sound bites
than
> about anything being wrong. You are going to need a lot more evidence
than
> has come forth to prove their case. Personally I think that most of the damage was caused by
> mismanagement on the part of the California State
Govt.

The energy companies intentionally shut down plants for 'maintenence' and diverted power supplies to
other markets at times of peak power demand (hot days in the summer). The result was wholesale
prices up to 2000% higher than normal.

 

"Kurgan Gringioni" <[email protected]> wrote in message
news:[email protected]...
>
> The energy companies intentionally shut down plants for
'maintenence' and
> diverted power supplies to other markets at times of peak power
demand (hot
> days in the summer). The result was wholesale prices up to 2000%
higher than
> normal.

This was all covered before. The enrgy companies are required to take orders from the California
state government on when they can run and when they can't. They had recordings and paperwork showing
that they were ordered to shut down for maintenance etc. at the worst possible times.

But we all really believe Henry that it is all the fault of evil uncompassionate greedy
corporations. And that is why Grey Davis has a recall running against him which will no doubt be
successful.

 

"Gary German" <[email protected]_NOSPAMX_.net> wrote in message
news:[email protected]...
> "TritonRider" <[email protected]> wrote in message
>
> IMHO, the "real stupidity" was the Republican stalwarts who voted for Bill (say, what?) Simon in
> the primary. Richard Riordan would have mopped up
the
> floor with Davis, but thanks to the Republican party faithful, they blew their chance.

Ya, Davis knew that also. He spent much of his campaign chest in the primary with anti-Riordan ads
because he knew he could beat Simon no matter what the $$ situation.