In what could take years and expend hundreds of millions of dollars, California’s major utilities are taking different tacks to respond to state regulatory encouragement to switch their vast utility systems to smart metering in which a whole host of special ratemaking and demand-side management programs can be offered to retail utility customers, particularly on the electric side.
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Futures Tacks on Gains Ahead of Weekend
The futures market continued its rally on Friday, fed on asteady diet of short-covering and local buying ahead of the holidayweekend. Early gains posted by the October contract led to a quickspike to the $1.86 level before light position squaring trimmedadvances before the closing bell. That left the prompt contract upa respectable 7.1 cents to settle at $1.783. October was not alone,November and December each more than matched October’s gains,increasing 7.6 cents and 7.3 cents, respectively.
September 8, 1998
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