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WHAT REALLY HAPPENED IN CALIFORNIA – OR YET ANOTHER REASON TO SUPPORT HB 5766 (formerly HB 1944, #1)

Tuesday, Feb 28, 2006

(The following is a paid advertisement)

ComEd talks a lot about California but it wants us to forget what actually happened in that state. The California energy crisis was caused by Enron and other shady energy companies manipulating an uncompetitive market that lacked appropriate state oversight.

Don’t take our word for it. Listen to the Enron tapes available at http://www.enrontapes.com/files.html.

Here are two of the more revealing quotes from these tapes:

(1) “He just f—s California,” “He steals money from California to the tune of about a million.”

“Will you rephrase that?”

“OK, he, um, he arbitrages the California market to the tune of a million bucks or two a day,”

(2) “They’re f——g taking all the money back from you guys?”. “All the money you guys stole from those poor grandmothers in California?”

“Yeah, grandma Millie, man”

“Yeah, now she wants her f——g money back for all the power you’ve charged right up, jammed right up her a—— for f——g $250 a megawatt hour.”

Now ComEd wants to eliminate state oversight here in Illinois and import a risky auction scheme that has caused massive rate increases in New Jersey. Let’s stay the course and extend the rate freeze like we did in 2003. The only thing that’s changed since then is that both Exelon-ComEd and Ameren are billions of dollars richer. Vote Yes on HB 5766.

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