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Article #667

Re: Greens say wind power kills birds

#667
From: Jeffrey Siegal
Date: Sun, 10 Jun 2001 23:10
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Merlin Dorfman wrote:
>      Utility profits were quite comfortable during that period,
> but the case was made that competition would enable both lower
> prices and higher returns.

Profits being comfortable, on existing investments, is not the same
thing as profits being high enough to attract new investments.  In fact,
a reasonable argument can be made that profits were "comfortable" during
that period precisely because utilities were successful in avoided
making new investments.  They did so because they did not believe that
the permissible return on new investments would be attractive.

Another reasonable argument could be made that profits, in a book sense,
were comfortable because the costs of being left, as we are now, with an
aging and inadaquate generation and transmission system (much of which
was, and is, so old that it was already depreciated) was not being
properly accounted for.
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From: Jeffrey Siegal <jbs@quiotix.com>
Newsgroups: talk.rumors,alt.politics,ca.general,alt.california,tx.politics
Subject: Re: Greens say wind power kills birds
Date: Sun, 10 Jun 2001 16:10:14 -0700
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