-Caveat Lector- (Take that, Bush, Cheney, Enron, and friends (fiends?). --SW)
Breakthrough in Calif power contracts >From the National Desk Published 4/22/2002 8:58 PM SAN FRANCISCO, April 22 (UPI) -- Eight long-term contracts between California and four private power suppliers have been renegotiated at a savings of $3.5 billion to the taxpayers, Gov. Gray Davis announced Monday. The revamped contracts are the first to be renegotiated by the state and could represent a breakthrough in what has become a major election-year issue for Davis, who has been criticized for signing long-term contracts last year that left the state locked in when prices on the open market collapsed. "This was a team effort by all parties," Davis said in announcing the agreements in San Francisco. "They brought back a better product for less money. The state has gotten the power it needs, where it needs it, when it needs it and at a more competitive rate." The original contracts were hurriedly negotiated by Davis' administration in order to secure a guaranteed supply of power for the state at prices below those being charged on the day-ahead, usually expensive spot market. While they may have accomplished their role last winter, spot market prices have since corrected to levels below the set prices of the long-term deals. The renegotiated contracts total around $11.4 billion, a 23-percent reduction from the original $15 billion; four of the eight pacts were with San Jose-based Calpine. Another was with High Desert Power Plant LLC, a subsidiary of Constellation Energy, which is building a 700-megawatt plant outside Los Angeles; the other three contracts were with renewable-energy companies Capitol Power, Cabazon and Whitewater Hill. Two of Calpine's contracts will provide a total of 1,400 megawatts of baseline power this year, an amount that will increase over the next two years. The other two contracts are for "peaker" generation that comes on line only during periods of extremely high demand. Some energy industry representatives had warned that pressing for a renegotiation of the contracts would sour the business climate in the California power market, possibly scuttling plans for new power plants and encouraging marketers to sell their electricity in other states. Davis's office said the new contracts provided "stronger commitments" for power plant construction. Calpine Executive Vice President Jim Macias said his company had no complaints about the new contracts. "The state is assured that electricity will be available under more flexible terms when supplies will be critically needed," Macias said. "Calpine continues to benefit from solid, long-term power contracts and increased revenue and cash flow in the early years." Macias said the growth potential of California made the state a desirable market that warranted some flexibility on the industry's part. "Calpine remains bullish on the long-term California power market," he said. "We believe the growing need for new power in California is significant -- particularly as the economy recovers, weather normalizes and older, less- efficient generating assets need to be replaced." (Reported by Hil Anderson, UPI Chief Energy Correspondent) Copyright � 2002 United Press International "If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." -GW Bush during a photo-op with Congressional leaders on 12/18/2000. As broadcast on CNN and available in transcript on their website http://www.cnn.com/TRANSCRIPTS/0012/18/nd.01.html Steve Wingate, Webmaster ANOMALOUS IMAGES AND UFO FILES http://www.anomalous-images.com <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
