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Newspaper
Syracuse Herald Journal
Location
Syracuse, New York, United States of America
Date
May 16, 2001
Page
3
New York report says Verizon seeks higher basic charges for residential customers to boost income. The carrier argues the increase is needed to meet new price benchmarks and support service infrastructure.
A watchdog group warns California's power problems will worsen with 260 hours of relief missing annually, tied to a potential 5000 megawatt shortfall at peak. The report flags possible Northeast and Pacific Northwest disruptions during heat waves and notes New York City could see transmission failures. It also discusses Texas market changes and California rate hikes to recoup $6 billion, with high consumers facing up to 80 percent increases.
Democratic leaders in Washington unveiled a plan to curb electricity prices and boost conservation, opposing President Bush’s forthcoming energy policy. The proposal favors price caps in the West, refunds for past overcharges, tax credits for efficient homes and cars, stricter fuel efficiency for SUVs and light trucks, and releasing more petroleum from the Strategic Reserve.
The Midwest faces the sharpest pricing pressure with Chicago posting 2.08 per gallon as shortages loom. Analysts cite tight crude markets, lower inventories, and reformulated blends across smoggy cities, with Midwest and West hit hardest by summer phase-ins and refinery disruptions.
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