On reflection, the most surprising aspect of the past two monthsof California’s roller coaster electricity prices is that thepeople who pieced together the state’s power deregulation plans —state legislators and regulators — are voicing the loudestconcern about the first real dose of free-market price volatilityfelt by retail mass consumers, who, it might be added, are alsovoters. In a free market, heavy demand butting heads withconstrained supplies will result in the blood of high pricessplattering everyone.
Coaster
Articles from Coaster
Down One Day, Up Another; July Jumps Back 18.8 Cents
Bungy jumping, yo-yoing and roller coaster riding are allactivities that have very much in common with what has been goingon in the gas pit at the New York Mercantile Exchange this week.Many observers expect more of the same until near-month futureseither take out support at $3.80 or bust through resistance at$4.55, “a nice friendly little trading range.”
June 9, 2000
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