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Originally Posted by belsarius
That's not true either. The utilities were already in a loss situation and not passing it on to anyone. This saves the public from having to pay for those losses that the companies were already taking.
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Well the PPAs weren't profitable before this legislation was dreamt up, I agree with you there. But to say that the utilities didn't profit isn't altogether accurate. They did make a lot of money from this arrangement through the years, although as cheaper sources became available (gas dropping significantly, being the major one) it became not profitable.
But we hit a point now where we are going to pay regardless. We either let the utilities out of the PPA deal due to the much discussed "Enron clause", or they recoup losses. No one is just going to eat this for the taxpayer at this point.