[Congressional Record (Bound Edition), Volume 147 (2001), Part 8]
[House]
[Page 10699]
[From the U.S. Government Publishing Office, www.gpo.gov]



           WE DO NOT NEED CHARITY, WE NEED ENERGY REGULATION

  (Mr. SHERMAN asked and was given permission to address the House for 
1 minute.)
  Mr. SHERMAN. Mr. Speaker, in 1999, California paid $7 billion for 
electrical generation. A year later, last year, we paid $32.5 billion 
for the same amount of electricity. Today, with conservation efforts, 
we will use no more electricity than we did 2 years ago, but we will 
pay 50, 60, or $70 billion for the same number of electrons. This is 
because so many turbines in California are, quote, closed for 
maintenance.
  If my colleagues will see this chart, they will see that roughly 
10,000 megawatts, one-fifth of everything California needs, is shut 
down in excessive maintenance. Why? Because the independent energy 
wholesalers know that by closing some turbines for maintenance, they 
can drive the price of other kilowatts 10 times, 20 times, sometimes 50 
times higher than the fair price.
  The answer is the Hunter-Eshoo bill, which will restore for at least 
a couple of years the regulation necessary to take the profit out of 
manipulation. We do not need charity. We need regulation.

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