State hunts for goods on energy firms- Lawyers try to show market manipulation

SF Chronicle ^ | 1/19/03 | Mark Martin, Chronicle Sacramento Bureau

[Robert357]

Nice additions

Link, please see posts 18, 19, & 20.

Another link See post 16, which are comments to Lewislynn on the Cal ISO

It's nice to have stuff linked to one place so it can be easily found.

[snopercod]

From the bayarea.com article {why did this never get posted here???}

...the ISO asked DWR to schedule "fictitious load" to make it seem as if more energy was needed, said Dunn, chairman of the Senate Select Committee to Investigate Price Manipulation of the Wholesale Energy Market.

DWR didn't schedule "fictitious load," said spokesman Oscar Hidalgo, but did agree to sell some power it had already purchased in order to arrange a sale directly with two generators. Traders were uncomfortable with the request, and asked the ISO officials to call back on a recorded line.

"Obviously, we found it odd, or we wouldn't have documented it," Hidalgo said.

Gregg Fishman, spokesman for the ISO, said officials there were investigating the transaction, but "they represent what appears to be standard industry practice."

The ISO is in a different situation than energy marketers and generators who have been accused of manipulating the state's power market to increase profits, said Michael Kahn, chairman of ISO Board of Governors.

Yeah, the ISO is in a different situation than energy marketers. They are not accountable under the law.

[Robert357]

Actually, I think the article was either posted or commented on here at some point.

Yeah, the ISO is in a different situation than energy marketers. They are not accountable under the law.

And folks wonder why I want FERC to change the management of the ISO and force California utilities to play in a multi-state RTO/ISO that is beyond the control of the California Governor.