EDITORIAL POWER PLAY.AT first glance, Proposition 80 would seem to merely lock in a bunch of energy regulations that are already on the books - chief among them barring corporations from buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. from independent suppliers. So what's the point? The point would seem to be less what Proposition 80 does to the energy market, and more what it does to the special election. The campaign's financial backers are public-employee unions that have nothing to do with energy policy, but are trying to sink Gov. Arnold Schwarzenegger's initiatives on other issues such as redistricting redistricting: see legislative apportionment. and fiscal responsibility of state government. Apparently they think running ads invoking the ghost of Enron will bring sympathetic voters to the polls. And maybe it will, but Proposition 80 could do serious damage to California's long-term energy stability. While the state's current energy regulations - adopted in response to the deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. crisis of a few years back - seem to be doing a decent job of shoring up Noun 1. shoring up - the act of propping up with shores propping up, shoring supporting, support - the act of bearing the weight of or strengthening; "he leaned against the wall for support" supplies and keeping prices stable, they're no guarantee of long-term success. As California's population grows, regulators will need to adapt to changing conditions. But Proposition 80 would freeze many existing policies, requiring a two-thirds legislative vote to override An arrangement whereby commissions are made by sales managers based upon the sales made by their subordinate sales representatives. A term found in an agreement between a real estate agent and a property owner whereby the agent keeps the right to receive a commission for the sale of them. No wonder the Public Utilities Commission has voted unanimously to oppose the measure. By denying even the possibility of businesses buying power from anyone but the behemoth behemoth (bē`hĭmŏth, bĭhē`–) [Heb.,=plural of beast], large, fanciful primeval monster, like Leviathan, evoking the hippopotamus mentioned in the Book of Job. utilities, Proposition 80 could limit the state's greatly needed access to additional energy supplies. And by barring certain peak-pricing practices, it could similarly preclude pre·clude tr.v. pre·clud·ed, pre·clud·ing, pre·cludes 1. To make impossible, as by action taken in advance; prevent. See Synonyms at prevent. 2. important conservation efforts. Proposition 80 would inhibit energy flexibility at a time when it's needed most - a steep price to pay for special-interest politics. The initiative process is no place for deciding the intricacies of energy policy; this is why we hire regulators in the first place. Vote no. CAPTION(S): box Box: DAILY NEWS SPECIAL ELECTION ENDORSEMENTS TO DATE |
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