California’s energy crisis in 2000-2001 socked the nation’s most populous state with a bill approaching $45 billion, according to a study released Wednesday by a private, nonprofit San Francisco-based think tank, the Public Policy Institute of California. State policymakers need to forge “a new consensus on energy” or risk having the crisis repeated, the institute’s report said.
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Merchant Energy Stock Prices Hit New Lows With Earnings Releases
Projections forward of the lower energy prices that already socked fourth quarter earnings, plus the “Enron effect” on stockholders’ confidence, slammed merchant energy companies again last week, as many that were already in the basement, hit new lows on Wednesday before leveling off and rising slightly on Thursday and Friday. The latest stock quotes continued the downward trend for the year, which has seen some merchant energy stocks go from the $50 to $60 range to $6 to $15. Results and projections were suffering from a re-evaluation of power production projects in the current energy price environment.
February 11, 2002
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