FERC Keeping Deregulation on Track

FERC Comm: Urgent Study Needed To Keep Dereg On Track

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08/29/2000
Dow Jones Energy Service

(Copyright © 2000, Dow Jones & Company, Inc.)
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CHICAGO -(Dow Jones)- Stumbling points in California's deregulated power
markets this summer need to be explored urgently to avoid nationwide
electricity restructuring problems, a key U.S federal regulator said Tuesday.
"There is a crisis of confidence in our electricity markets," said Bill
Massey, a commissioner with the Federal Energy Regulatory Commission,
addressing a Chicago conference.
There is concern that California's early restructuring problems will throw
into disarray deregulation progress in other states.
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"As California goes, so goes the country," Massey said.
Heat waves have sparked strong demand in California this summer, and a lack
of adequate power supplies have led to soaring wholesale power prices.
Customers in San Diego have been exposed to these price surges, and many have
seen retail rates more than double.