News that famed investor Warren Buffett plans to plow more money into the nation’s power industry by investing in transmission lines and power plants and will take other steps to bolster power reliability in the U.S. has FERC Chairman Patrick Wood feeling pretty good as he prepares to depart the federal agency, since these are top priorities for the Commission.
Articles from Famed
In what was probably its most comprehensive decision onCalifornia since its famed Dec. 15 order, FERC last week announceda series of actions designed to boost energy supply, reduce demandand alleviate the delivery bottlenecks that continue to bedevil thewholesale electricity and natural gas markets in the state andoverall western region.
The cash market for the concluding days of November hadsomething in common with the famed cliff divers of Acapulco:breathtakingly steep plunges. “You better hope you sold your gasearly” Wednesday because there was almost no demand for the longholiday weekend, a marketer said, “and you just can’t cook thoseThanksgiving turkeys long enough [in gas ovens] to boost demand.”