Victorville may sell power plant to Chinese
The city has tried unsuccessfully to sell off the plant's turbines to Venezuela. The Chinese company has indicated it may buy the whole plant.
Mayor Rudy Cabriales signed an agreement with turbine builder General Electric giving the city until April 16 to seal the deal. That deadline would have to be extended if China Huadian Corp. decides to pursue the purchase.
Signing over the plant means the city would lose an estimated $100 million it had invested into the venture, including land acquisition, permitting, equipment and more.
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Competition in Electricity Has Been Good for Consumers and Good for the Environment
WASHINGTON - By Bernard L. Weinstein
Electricity used to be boring. Public utilities that provided power to homes and businesses were regulated monopolies and, by law, guaranteed a fixed rate-of-return on their generation, transmission, and distribution assets. Prices per kilowatt-hour were set by utility commissions after lengthy testimony from power companies, wanting higher rates, and consumer groups, wanting lower rates.
About 25 years ago, the electricity landscape started to change as economists and others argued that competition could lead to lower prices and stronger grid reliability. Opponents of competition argued that consumers weren’t knowledgeable enough about power markets to make intelligent choices…
