The unsung heroes of the California energy crisis

Chronwatch ^ | January 29, 2005 | Wayne Lusvardi and Charles B. Warren

[WayneLusvardi]

The Unsung Heroes of the California Energy Crisis

Written by Wayne Lusvardi and Charles Warren Saturday, January 29, 2005 - ChronWatch.com

Mirant settlement belies real culprits of California energy crisis

The headline “Mirant to Pay $750 Million to Settle California Claims” was splattered across the pages of newspapers on January 14 reporting the Mirant Corporation’s agreement to settle claims that it manipulated power prices during California’s energy crisis in 2000 and 2001. As part of the settlement, the State handed Southern California Edison $101 million, Sempra Energy’s SDG&E $24 million, and PG&E will receive an uncompleted power plant. The settlement is not really about wrongdoing, but about who gets the California electricity ratepayers monies held by Mirant, which is undergoing a financial restructuring due to the California energy crisis debacle. The headlines belie Mirant’s performance and the government’s complicity in the energy crisis. For complete article go to: http://chronwatch.com/content/contentDisplay.asp?aid=12705

[backhoe]

We have covered this subject for several years:

calpowercrisis:

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[SierraWasp]

Is this issue dead yet? Is it really a dead horse, yet?? Did the expansion of "Path 15" the final resolution along with a Governor powered by "Star Power?"

[Ernest_at_the_Beach]

We might know more this summer.

[Ernest_at_the_Beach]

See this:

CA: Potential for summer blackouts grows ~ Increasing demand for power, aging generating plants....

[jocko12]

What do the rate payer get other than the shaft.

[LPM1888]

Who were paying the bills to the utilities for this "loss Leader" sales? Most electric utilities can't survive very long selling at a loss....

Here is part of your answer.

[deport]

So my electric utility supplier is going to get some subsidity money out of CA for their 'loss leader' sales to me in Texas.... I doubt it.

[deport]

subsidity = subsidy

[ORECON]

Smoke and mirrors. The real culprit is the State of California regulators. They didn't deregulate, they reregulated the industry.

[EricT.]

Aww geez. I moved out of Khalifornistan 18 months ago, and I'm still paying my SMUD bill.