California Market Attracts Aggregator
With its new agreement with the Bonneville Power Administration (BPA), power aggregator New Energy Ventures, Inc. (NEV) stands poised to enter California's retail market with the advent of competition.
NEV has agreed to purchase 200 megawatts (Mw) of surplus electricity from BPA for five years beginning January 1, 1998, with an option for an additional 200 Mw of surplus firm power for five years from the time the option is exercised. NEV also will purchase seasonal economy power, which sells for less than 1.5 cents per kilowatt-hour.