California signs 40 power contracts for 8,886 MW

HOUSTON, Mar. 5—California Gov. Gray Davis Monday said the state signed long-term contracts with generators for about 8,886 MW of power at an average price of $69/MW-hr, covering about 75% of the state’s net short position between now and 2010.

SACRAMENTO, Calif.—(BUSINESS WIRE)—March 5, 2001— Statement by Jan Smutny-Jones: �We support the Governor’s efforts to secure power for California through long-term contracts — a solution that we’ve been advocating for months to help stabilize energy prices and bring down the cost of electricity.

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