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Enron Mail |
Mark, Vicki and Richard: I assume you are aware of this preliminary CalPx
Report. CAL-PX: HIGH PRICES NOT CAUSED BY MARKET MANIPULATION A preliminary report by CalPX says California's price spikes this summer were predictable and were not caused by market manipulation, as utilities and some lawmakers have suggested, reports Dow Jones Newswires. It blames the high prices on increased demand and low number of generators. CalPX does say it needs to address some "design flaws" that "provided incentives to suppliers to speculate on receiving higher prices in the Real-Time and Ancillary Services markets by moving their supply to those markets." According to the article, CalPX proposes some modest changes including making it easier to develop new generation, spreading the costs of out-of-market purchases to the utilities who under-scheduled, and encouraging utilities to purchase more electricity in the forward market (Dow Jones Newswires, Oct. 4). "This e-mail, including attachments, contains information that is confidential and it may be protected by the attorney/client or other privileges. This e-mail, including attachments, constitutes non-public information intended to be conveyed only to the designated recipient(s). If you are not an intended recipient, please delete this e-mail, including attachments and notify me by return mail, e-mail or by phone at 212 424-8125. The unauthorized use, dissemination, distribution or reproduction of the e-mail, including attachments, is prohibited and may be unlawful. John Klauberg LeBoeuf, Lamb, Greene & MacRae, L.L.P. 212 424-8125 jklauber@llgm.com
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