900+ events is rather a lot really. Predicting earthquakes is what gets even fake psychics discredited but I cannot help wonder if a 7+ someplace won't be trigger event for an already fragile economy. Even the usual home price drop near the epicenter in these conditions could empty out an entire city with walkaways.
13 comments:
Just what the troubled insurance industry needs right now, a giant P&C event.
Ins Cos just liquidating enough for payouts would crash this market.
"If I wanted to kill Las Vegas I'd just arrange for them to pay market rates on electricity."
Gasp! to your false misconceptions! Las Vegas DOES. Your arrogance will not believe that but it is true. A very minor amount comes from Lake Powell, the vast majority is gas fired cogenenation owned by NV Energy.
No subsidies here Walrus.
Worry about your own fucked up state when it comes to electrical cost (even those evil coal generated electrons).
It is apparent you know not what of you blog.
This is the second time I have corrected your arrogance on elecritical issues Rob.
Study and spew fact not bull shit.
You really think 8.3¢ is market rate?
I can just hear it now... all the pundits blaming an earthquake for the economic troubles. You'd have a bunch of Wall St. types going on about it - the stimulous worked, everything was fine... then "It" happened. Ditto real estate "speculators", people who "forgot" to plan for retirement, etc.
Anything to shift the blame off of them.
"You really think 8.3¢ is market rate?"
Unlike California, most other states don't choose to punish their residents just for running the A/C.
Is any public utility in the country charging a true market rate? AFAIK all rates and returns on investment are set by the states' public utility control authorities.
There should actually be laws against air conditioning. It makes me sick because it creates freezing cold (I call it "the freezing wind of death").
At work, I had the vents in my office (I have a private office) covered with scotch tape. At home, I just don't have air conditioning and I saw that as an advantage or a necessary condition when I moved there. I do use a fan (at home) or let cold air come from the rest of the office by opening the door when it's too hot (at work). Because I like to keep my office door shut, I would sometimes actually suffer from the heat or make sure I do it when I'm alone.
At our old office, I did not have a private room with a door and the air conditioning produce worse cold, although the vents above my head were still covered and I was able to shut down the air conditioning. Only, that was the whole building's air conditioning and at some point, the janitor installed a lock to prevent me from pushing down the button. At first, my turning off the air conditioning was tolerated after hours, an hour or so at lunchtime, etc., but what was permitted was not enough for my needs.
Because of air conditioning, I have actually been using a space heater in summer, although mostly at the old office. Because exactly when it's hotter outside, my office would be terribly cold. I would also heat up the tiny room where I take naps at work (not during regular working ours, of course).
At 9:52 PM, Rob Dawg said...
You really think 8.3¢ is market rate?"
No I don't. I know for a fact the average WHOLESALE rate is far less than 8.3 cents/kwh-hr in Nevada.
The average is probably 5-7 cents. I may or may not to be able to reveal detailed pricing information. I could but that whole JOB thing requires self censure.
WHat follows below is industry wide information and generalizations. Cost of fuel (mostly natural gas or coal) adjusted for heat rate, assumptions on O&M and capital costs to be recouped are very easy to make. Fuel cost is the largest factor. Heat rate second, O&M and capital costs after that. Given a fuel cost and a heat rate you can guess within 10-25% what a generating plant has for a busbar cost and be damn close.
The cost of generation varies with fuel costs, capital costs, O&M for each generating facility. Older coal generation is usually around 2.4-4 cents BUSBAR cost. The latest and greatest combined cycles facilities may be 5-7 cents except natural gas is extremely cheap and the most efficient units are comparable to a lot of coal RIGHT NOW because of this.
Simple cycle natural gas turbines are 7-9 cents when natural gas isn't so cheap.
Obviously peak demand times (Air Conditioning in the summer increases) increase the wholesale price in Nevada and California but wholesale prices drop when during off peak months.
I live in Las Vegas and get my electricity from the states major utility and my RESIDENTIAL rate is 11.3 cents/kw-hr.
So no, I don't think 8.3 cents/kw-hr is the 'market rate' for a utility in the southwest purchasing bulk power. It is however above the 11.3 cent/kw-hr residential rate. I have no idea what business pay nor do I care.
Just because SCE, PGE, CDWR and LADWP are raping Californians doesn't mean they are paying over 8.3 cents wholesale on average unless they choose to.
I don't know what those utilities charge residents, I used to know the rate for a couple of them....but I don't work for one of them anymore.
I do know you are being raped and 8.3 cents/kw-hr is far above the wholesale average market rate.
Las Vegas is paying 'Market Rate' for electricity whether you believe it or not. 'Market Rate' is the bid rate of excess generation available on the grid (which any utility can buy) or the cost of production of the utility generating assets...whichever is less.
Best of luck with that power bill.
"It is however above the 11.3 cent/kw-hr residential rate."
Whoops...BELOW the 11.3.
Too many typos, too little proofreading patience.
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