CalPX Told To Release Confidential Trade Data To ..

CalPX Told To Release Confidential Trade Data To State

09/22/2000
Dow Jones Energy Service
(Copyright © 2000, Dow Jones&Company, Inc.)
LOS ANGELES -(Dow Jones)- California's Electricity Oversight Board has
ordered the state's Power Exchange to hand over confidential information to
the board regarding the trading activities of utilities, generation companies
and other market participants who traded power at the exchange since June,
according to a copy of a subpoena obtained by Dow Jones Newswires.
The subpoena marks the first time the state will gain access and learn how
each company traded power in the day-of, day-ahead and block forward markets.
Moreover, the EOB subpoena requests the CalPX release the names of the
participants who traded power at the exchange since June to better understand
how and why the participants conduct business in the various markets at the
exchange.
The CalPX has until Wednesday to hand over "aggregate supply and demand
curves, individual firm bid dates, final schedules for each firm by
generating unit, injection point and take out point," from June 1 through
September and continue supplying trading data through Nov. 1.
In addition, the subpoena requests "block forward trade positions by firm for
June, July, August and September" and that this information continue to be
supplied through October and November.
The subpoena is part of the state's ongoing investigation into California's
troubled deregulated electricity market, which has resulted in high wholesale
power prices in San Diego, landmark legislative action and accusations of
collusion, price gouging and market power. Gov. Gray Davis ordered an
investigation in June, when power prices soared to near record levels and
rolling blackouts wreaked havoc in the Bay Area.
The CalPX said it will comply with the EOB request and that a subpoena to
access the confidential information is required according to the rules of the
exchange. But the EOB will be required to protect the confidentiality of each
trade it gains insight into as well as the identities of the participants who
traded.
If the trading activities of a company or other participant is leaked or
becomes public it could have a devastating affect on the company and the EOB
would be held liable, according to the CalPX.
The CalPX said it must notify each and every participant who traded power in
its various markets to alert them of the EOB subpoena.
-By Jason Leopold; Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

Folder Name: Utilities, Electric: Retail Wheeling
Relevance Score on Scale of 100: 53

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