Save On Electricity

OCLC Number: (OCoLC)48669189 Subject: Electric utilities -- Rates -- California. Excerpt: ...ps do not build powerplants. Price caps do not encourage conservation. They seem to spin the web of assumed political relief from higher prices, but not real relief. They do not build new powerplants or increase supply. That is the bottom line. But if price caps are the answer, as some suggest, I ask why has the California government not imposed price caps on the power sold by municipally owned utilities such as the Los Angeles Department of Water and Power. It is interesting to look at some of these accusations. Private power, of course, must openly report its profit. Public power does not have to report its windfall profits to anyone. It can keep them secret if it wishes. Private power has to report to the Securities and Exchange Commission and is watched like a hawk by investors who own stock. Public power has no investors, no SEC looking over their shoulder. Private power pays income taxes. Public power pays no taxes. It should come as no surprise that the State of California and specifically Governor Davis' Department of Water Resources, who has spent billions in purchasing power for California, has been stonewalling a California Senate committee investigation of suspected price gouging and market manipulation, refusing to provide relevant documents. To accuse the private power of profiteering, but to say so little about public power in my opinion is shameful. But for Governor Davis to fail to stop the Los Angeles Department of Water from profiteering is also inexcusable. I think it is also important, as we look at the issue of protection for those consumers in the West to recognize that both new generation and maintaining existing generation is an important factor that treats both the investor-owned and municipal utilities alike. Without a firm commitment from investors, we are not going to see one shovel turned in the ...