Subject: Utilities, Electric: Deregulation: USA: Calif. utilities seek ISO power price cap cut to ...
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Date: Mon, 9 Oct 2000 02:28:00 -0700 (PDT)

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		 Subject: Utilities, Electric: Deregulation: USA: Calif. utilities seek ISO 
power price cap cut to ...

 
Reuters
USA: Calif. utilities seek ISO power price cap cut to $100. 
? 
10/04/2000 
Reuters English News Service 
(C) Reuters Limited 2000. 

SAN FRANCISCO, Oct 4 (Reuters) - Pacific Gas and Electric Co (PG&E) said 
Wednesday it is joining with Southern California Edison and a California 
consumer group to seek a reduction of the Independent System Operator (ISO) 
price cap for electricity to $100.00 per megawatt hour (MWh) from the current 
$250.00 cap.

PG&E, the utility subsidiary of San Francisco-based PGOCorp. , proposed the 
lower price cap as part of a broader package of steps it is taking to "make 
sure the California power market can operate more efficiently," a company 
official told reporters at a briefing here. 

Southern California Edison is the utility subsidiary of Edison International 
, based in Rosemead, Calif.

PGOsaid the request was backed by The Utility Reform Network (TURN), a San 
Francisco-based consumer group that has protested against soaring electricity 
prices as a result of California's bid to deregulate its electricity industry.

The California ISO, established as part of the deregulation effort, oversees 
the operation of about 75 percent of the state's power grid, serving some 27 
million people.

The move by PGOand Edison follows a summer of chaos in the California power 
market, where a shortage of electricity generated within the state and open 
market power pricing sent the cost of wholesale power to nearly twice its 
historical average, frequently trading above the proposed $100.00 cap. 

Folder Name: Utilities, Electric: Deregulation 
Relevance Score on Scale of 100: 97

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