WE HAVE SEEN THE FUTURE AND IT IS THE HOURLY pricing of electricity.
In California, the power exchange serves as the cornerstone for a restructured electric industry. The raison d'être...
will not be supplied through the mechanism of a competitive market. Thus, the preservation of electric bulk power supply reliability must be built into the very structure of the power supply industry itself. In this regard, ISOs and transcos have significantly different characteristics that must not be overlooked.
Having complimented Messrs. Cicchetti and Long for refraining from taking sides in the ISOs vs. transcos debate in the context of "transmission products" and their pricing, I am not going to do so here in the context of electric bulk power supply reliability. Suffice it to say that electric bulk power supply reliability is bound to be profoundly affected - particularly in the long-term, when the construction of new transmission facilities comes into play - by the particular ISO or transco model being adopted.
Gregory S. Vassell
Upper Arlington, Ohio
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