[Ernest_at_the_Beach]

Calpowercrisis:

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[Robert357]

Among them was the Sacramento Municipal Utility District, which revealed that, just days before the first rolling blackouts struck California, it had conversations with Enron traders about ways that Enron could profit by dealing with SMUD.

SMUD did not take Enron up on any of its offers, said district lawyer Arlen Orchard, although the utility did engage in what he called "legitimate arbitrage," a trading practice profiting from price differences between markets.

-----Snip----

"There's more than one way to spin this," said Mike Florio, a consumer lawyer who sits on the ISO board.

"Many of these things are like right on the razor's edge," he said. "You look at it one way and you say, 'Oh, that's just legitimate financial arbitrage.' You move an nth of a degree farther and you say. 'Wait a minute, that looks pretty nasty.'"

OK so not only has Cal-ISO gamed the market, but probably SMUD. I also saw that DWR may have gamed the system prices as well. I think that when this is over Boxer and Feinstein are going to find out that they have a real mess on their hands, in that it is far more than just Enron.

[NormsRevenge]

The five companies that bought most of California's power plants in the early days of deregulation acknowledged a range of practices to FERC.

Sounds like they exercised their options in a free market system and juiced the consumers ...
DUMP DAVI$



GO SIMON

[Robert357]

Maybe somebody should make a hyperlinked list of the suspects in the gaming of the system along with the articles and source documents.

Ernon (Lawfirm memo's on FERC website)
Dynergy (SEC investigation & Wall Street Journal article)
Reliant (SEC investigation & Wall Street Journal article)
Cal ISO (several Sac Bee articles and a San Jose article)
SMUD (this article)
DWR (I saw this either early today or yesterday in an article)
Puget Sound Energy (nameed in lawfirm memo's on FERC website)
PowerEx (named in lawfirm memo's on FERC website)

.....and the beat goes on....ladda dadda dee