® Commonwealth Club San Francisco, California June 21, 2001 Jeff Skilling President & CEO The Arrogance of Regulation: The Power Crisis in California.

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Presentation transcript:

® Commonwealth Club San Francisco, California June 21, 2001 Jeff Skilling President & CEO The Arrogance of Regulation: The Power Crisis in California

© 2001 UB-Commonwealth Electricity Prices in Ohio, 1998 (Cinergy Mid Peak in $/MWh) $2,461

© 2001 UB-Commonwealth Electricity Prices in Ohio, 1999 (Cinergy Mid Peak in $/MWh)

© 2001 UB-Commonwealth Electricity Prices in Australia, Dec 98 - Dec 99 (New South Wales Mid Peak in $/MWh) $920

© 2001 UB-Commonwealth Electricity Prices in Australia, 2000 (New South Wales Mid Peak in $/MWh)

© 2001 UB-Commonwealth Electricity Prices in Australia, 2001 to date (New South Wales Mid Peak in $/MWh)

© 2001 UB-Commonwealth Electricity Prices in Ohio, 2000 (Cinergy Mid Peak in $/MWh)

© 2001 UB-Commonwealth Electricity Prices in Ohio, 2001 to date (Cinergy Mid Peak in $/MWh)

© 2001 UB-Commonwealth Electricity Prices in California (Mid-Columbia Mid Peak in $/MWh) $4,175 Spot Prices Forward Prices

© 2001 UB-Commonwealth Net Generation as a Percentage of Retail Sales 59% 41% 100%

© 2001 UB-Commonwealth California Wholesale Electricity Prices vs. Enron Stock Price $4,175

© 2001 UB-Commonwealth California Wholesale Electricity Prices vs. Enron Stock Price $4,175

®