California Municipal Utilities Support SB 888.News Editors/Government Writers SACRAMENTO Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Calif.--(BUSINESS WIRE)--April 29, 2003 The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Municipal Utilities Association is Supporting SB 888 (Dunn) designed to re-regulate the electricity market and in the process provide an obligation to serve consumers including the obligation to plan and construct needed power plants. Jerry Jordan, Executive Director of the California Municipal Utilities Association, said that "California experimented with the idea that 'the market will provide' and discovered that not only did the market not provide, reliance on the market was an economic disaster. In 1999, the last stable year in the California electricity market, customers served through the California Independent System Operator (ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. ) spent $7 billion on wholesale energy and ancillary Subordinate; aiding. A legal proceeding that is not the primary dispute but which aids the judgment rendered in or the outcome of the main action. A descriptive term that denotes a legal claim, the existence of which is dependent upon or reasonably linked to a main claim. services. In the year 2000 that number rose to $27 billion. In 2001 the cost was projected to rise to $70 billion until the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. instituted price caps that kept the price to just below $27 billion. In a two year period, the 'market' provided California with an extra $40 billion in costs." "The purpose of restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). the California electricity market was to end the high California electricity rates. Now the rates of the investor owned utilities are 40% higher than before and the State had to spend $12 billion for short term electricity purchases," Jordan said. California's municipal utilities, throughout the crisis, retained their obligation to serve their customers and remained credit worthy. Several publicly owned Publicly owned can refer to:
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