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Re: Don't blame Texas » James K

Posted by AuntieMel on January 13, 2006, at 16:44:17

In reply to Re: Oh, goooodie! I get to grumble!!!, posted by James K on January 3, 2006, at 16:35:37

California made it illegal for the power companies to buy power on long term contracts. It all had to be bought on the spot market.

They were sitting ducks for day trading brokers.

And - not all the companies that took advantage were Texan, though the large concentration of energy companies in one area increases the odds.

 

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poster:AuntieMel thread:594182
URL: http://www.dr-bob.org/babble/poli/20051121/msgs/598764.html