Lenders know there are billions of dollars of weak financial assets in the market, such as securities backed by bad mortgages. The problem is no one knows who is exposed at what level to those...
The Nation's Grid Chiefs: On The Future of Markets
Exclusive interviews with the CEOs of five regional transmission systems.
a myth. People today have no grounds to say that at all.
This past summer, we met a level of peak demand—had a heat wave close to 51,000 MW of peak—that was forecast to be reached not for five or six years ahead. We met that without a glitch; without repeating blackouts of any kind.
Also the congestion constraint in 2005 was about 40 percent less than in 2004, in terms of cost. We are actually witnessing a level of innovation in both the supply and the services that we have never seen before; innovation in operation, innovation in technology, and innovation in markets.
Frankly, when you look at all of those things and hear people say, “I don’t want to be like California,” I say, well, you mean you don’t want to be efficient, you don’t want investment, you don’t want prices to be low. These are facts.