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The Oregonian — Letter to the Editor

Public power keeps looking better

Saturday, May 15, 2004

So, Neil Goldschmidt wishes he never had gotten involved in the Texas Pacific Group plan to buy Portland General Electric ("Goldschmidt confesses '70s affair with girl, 14," May 7). He said, "If I had been thinking clearly at all, I wouldn't have done it."

Since Goldschmidt is in the position to know what this deal is all about, maybe PGE ratepayers should come to the same conclusion. Even without inside information, a little clear thinking uncovers many risks and uncertainties with Texas Pacific, including its plan to drain 96 percent of PGE's reserve fund.

Public power is looking better all the time, especially since the feasibility study for Clackamas PUD shows bigger savings each year until the PUD rate advantage reaches 33 percent after nine years. Texas Pacific, on the other hand, promises there will be no rate decrease at all.

Southwest Portland


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