Commentary: California: All Sides Must Take A HitChristopher Palmeri
The fallout from California's eight-month long electricity crisis is spreading rapidly: Factories are closing in Montana and Washington. Utilities are asking for or already have won double-digit rate increases in Idaho, Wyoming, Nevada, and Oregon. The repercussions are being felt as far away as Pennsylvania, where GPU Inc. has asked regulators for permission to charge customers an additional $145 million to cover the cost of buying power in the sky-high wholesale market. "California sucked all of the electricity from the Western states," says Chuck Watson, chairman of energy marketer Dynegy, Inc. "It is reverberating throughout the country."
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