FERC vs. Davis

Mercury News ^ | 8/15/02

[NormsRevenge]

BITTERLY disappointing Gov. Gray Davis, federal regulators did not strap a dozen energy executives into the electric chair Tuesday and flip the switch.

Instead, the Federal Energy Regulatory Commission said it had found preliminary evidence of possible market manipulation by Enron and others and would launch a formal investigation.

[NormsRevenge]

DUMP DAVI$ & the Den of Socialists



GO SIMON

[NormsRevenge]

The state's electricity market contained grievous flaws in structure and operation, exploitable without breaking any law. Davis and other state officials were slow to intervene and too afraid of raising prices for consumers, which eventually went up anyway.

Corruption and Incompetence .. Ya look for that in a leader, Huh?

[NormsRevenge]

Ping ... Davis FERC;ing Around

[Ernest_at_the_Beach]

Oh, good one!

Be sure and see this one:

FERC's Wood Says Energy Markets Need Clear Rules (Update1)

And this quote by Wood:

``Unlike California, we don't run a kangaroo court,'' Wood said. ``The facts may look bad, but the companies may have reasons. They have to give their side.''

[Ernest_at_the_Beach]

calgov2002:

calgov2002: for old calgov2002 articles. 

calgov2002: for new calgov2002 articles. 

Other Bump Lists at: Free Republic Bump List Register

[Ernest_at_the_Beach]

This is an Editorial from the Mercury?

Davis is in trouble!!!

[dalereed]

Duffus steps deeper into the doo doo every time he opens his mouth.

[Gophack]

Davis is pissed because he isn't going to get a great headline on this before the November election.

The fact is, that the companies legally and possibly illegally manipulated and abused an energy system that was flawed. Like FERC said, many of the abuses were legal under our laws, and in fact Davis and the state were slow to act (Republicans said action should have occurred back in the summer of 2000, and as early as then was pushing for Davis is act. He was too busy raising money.)

Davis is as much to blame as the energy companies. He doesn't like the writing on the wall.

Tough sh*t.

Dump Davis.

[Dog Gone]

The commission also suspects manipulation of the price of natural gas. This would be a pivotal finding for any potential refunds. Much California electricity is generated from gas. A manipulated gas price would create a falsely high indicator of the reasonable price of electricity.

But this doesn't help California or Davis at all. California wasn't paying these high prices for natural gas. It was the electricity producers who were paying out the nose for it, which is one of the major factors why power prices were so high.

Now, maybe the power producers can get refunds, and by extension the state could claim a portion of that, but I don't think there is legal basis for that.

[d14truth]

Causing 'REDS', 'GRAYS', and 'GREENS' to sing the Blues in California.

Now, about YELLOW journalism. Maybe some thought should go into a press that considers 'TRUTH' as a greater good than AGENDA.

[Grampa Dave]

Norm thanks for the post.

Ernest thanks for the ping.

Ebuck fyi.

According to Ebuck, Kali has not been paying BPA for the power that they are sending down to us.

[Ernest_at_the_Beach]

According to Ebuck, Kali has not been paying BPA for the power that they are sending down to us.

Now that would be nice to have a news article on that!

Are there any?

[EBUCK]

I read it a while ago but seem to have lost the link. I'm still looking...

EBUCK

[EBUCK]

I must have been halucinating again. I can't find that article. I also cannot find the letter from Western Governers detailing the problem.

I must retract my comments until I can find them.

EBUCK

[snopercod]

What was that famous Lockyer quote about "Energy companies illegally taking advantage of loopholes in the laws"? It was hilarious.

California is seeking the return of what it says are $9 billion in ill-gotten energy gains.

Ill-gotten??? Let's take a moment to recall why the "energy pirates" were charging so much:

Reliant: Won't Bid In Power At $1,900/MWh To Calif Again Updated: Thursday, May 24, 2001 05:05 PM ET

NEW YORK (Dow Jones)--Reliant Energy is lowering the offering price to the state of California for electricity from the company's emergency peaking units, which can run only a limited number of hours because of environmental restrictions, the company said Thursday in a press release.

If Reliant is granted extensions by local air-quality boards to run the peaking plants without limits during electric supply emergencies, it will lower the offering prices to $150-$250 a megawatt hour from $1,500-$1,900/MWh currently.

The above from: Reliant Energy and the $1900 per MW [California Power Crisis]

And furthermore, has California EVER paid Reliant for the electricity it supplied last year? For a long time, they had not paid for the electricity, while at the same time screaming "gouging, GOUGING!!!"

LOS ANGELES (Dow Jones), April 5, 2001--The Ninth Circuit U.S. Court of Appeals Thursday said Reliant Energy (REI, news, msgs) is no longer required to sell electricity to the California Independent System Operator without assurances of payment, the company said.

[snip]

Reliant is one of California's largest electricity suppliers, with in-state power plants totaling about 3,000 megawatts. The company is owed more than $300 million from the state's cash-strapped utilities.

In a filing with the Securities and Exchange Commission two weeks ago, Reliant also said it was owed $108 million by the DWR for last minute power purchases made by the ISO. A company spokesman said at the time that the state should back the ISO's last-minute buys.

Gov. Gray Davis has said the state isn't responsible for the last minute power purchases made by the ISO, despite a law passed authorizing the DWR to buy power on behalf of the utilities.

Link: Reliant Doesn't Have To Sell Pwr To California ISO

[Gophack]

GREAT finds. It pays to remind us of what a manipulative liar Gray Davis is.

[Political Junkie Too]

At the same time, Davis is counting on the commission's assistance in renegotiating the expensive long-term energy contracts his administration signed with generators.

That should read: At the same time, Davis is counting on the commission's assistance in renegotiating the expensive long-term energy contracts his administration signed in secret meetings with generators.

-PJ

[luckystarmom]

Wood is a good 'ol boy from Port Arthur, Texas. He went to school with my old college roommate. She just visited him in Washington, DC last week. She said he is still the nice guy he was in high school.

He is a very smart, good guy who I trust to get the truth over the California energy crisis.

I certainly don't trust Grey Davis who has screwed California since he's taken offic.

[randita]

The governor's rhetoric has been over the top. Here's hoping federal regulators will be more patient with Davis than Davis is with them. Otherwise, Californians might have to wait even longer for any refunds.

This is too funny! Like, if FERC authorizes refunds, those will be passed on to Californians. The state, facing a $23 billion budget shortfall will plow those refunds right back into the black hole that is the CA state treasury.

[T Lady]

Every once in while, even the Left-tilting press gets it right, especially concerning the Un-governor of California.

Too bad none of these folks spoke up when San Diego was the first to be hit with the rising energy costs, and Mr.Davis just sat there twiddling his thumbs.

Could it have been because his core constituency is north of Orange County? Or because, as it has now been revealed, he'd taken campaign funds from the likes of Enron?

Ah yes, Gray Davis..."I never met a campaign dollar I didn't like".

Double Bumps for SIMON FOR GOVERNOR!