Prepared Direct Testimony of Robert McCullough on Behalf of the ...

Page 74 <strong>of</strong> 76SEATAC-400shifted to the right.Figure 699ISupply and Demand at the Callfomh Power Exchange May 22,2000 12:OOI(--Supply- erna and Supply ~ i qDo we know what price Enron and others would have bid into the PX?No. This analysis assumes that they would have moved the entire curve right. For this hour, anybid at less than $85/MWh would have been sufficient to reduce the PX price.What was the impact <strong>of</strong> shifting the supply curve 3,470 megawatts to the left at thishour?The shift raised the price where the demand and supply curves crossed by $35 --the differencebetween the actual PX unconstrained price <strong>of</strong> $120 and the $85 that would have occurred if theFat Boys would have been included in the energy supply.