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DEREGULATION:
Summary
AMMO
Spencer Abraham
(Corporate Interests, Deregulation)
FACT:
At a meeting of the Western Governors' Association, eight out of 11 Western
governors, including 5 Republicans and Democrat Gray Davis from California,
said they want wholesale prices for electricity capped throughout the region.
Attendees said they support a cap that would reimburse suppliers for operating
costs and permit profits of 15% to 25% above that amount, according to
the Wall Street Journal. The cap would be lifted when enough power is available
to create a truly competitive market among the 11 Western states that are
electrically interconnected. In the meeting, Energy Secretary Spencer rejects
their requests for caps on wholesale energy prices.
COMMENT:
So 25% profit is unacceptable in times of energy emergencies. It's understandable
though, the Enron-ilk, energy concerns can't possibly be expected to survive
on such paltry margins after being able to castrate California for billions
of dollars in the bogus "Energy Crisis" of 2001.
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