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Enron Mail |
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/12/2000 12:27
PM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <Gunther.Pergher@dowjones.com< 12/12/2000 11:14 AM To: undisclosed-recipients:; cc: Subject: DJ US Energy Secretary Warns Pwr Producers In West On Prices 18:59 GMT 12 December 2000 DJ US Energy Secretary Warns Pwr Producers In West On Prices WASHINGTON (Dow Jones)--As California's electricity system teeters on the brink of collapse, U.S. Energy Secretary Bill Richardson warned power producers not to attempt to take advantage of the power-supply crisis. "I am very concerned about the condition of power markets in the West. Electricity supplies in parts of the region are tight and prices charged for wholesale power in the region continue to spiral out of control," Richardson said in a press release late Monday. Richardson urged power providers not to attempt to take advantage of the crisis by price gouging. "While I have no specific knowledge of any such activities, it is important that generators located throughout the region and in Canada and Mexico understand that the administration won't tolerate any actions designed to take advantage of the situation," Richardson said. The energy secretary criticized a decision by Kaiser Aluminum Corp. (KLU) to shut down an aluminum smelter in the Pacific Northwest that receives low-cost power from the Bonneville Power Administration and resell that power in open markets for a profit of $52 million. "I have instructed Bonneville to explore all necessary actions to prevent Kaiser from remarketing this power," Richardson said. -By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com (END) Dow Jones Newswires 12-12-00 1859GMT Copyright © 2000, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
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