But they don't have the votes ....

House Democrats Unveil Calif Power Price Cap Legislation    
Updated: Wednesday, April 4, 2001 06:32 PM ET     
  
WASHINGTON (Dow Jones)--House Democrats introduced legislation Wednesday 
directing the U.S. Federal Energy Regulatory Commission to impose cost-based 
price caps in the Western U.S. 


The measure was unveiled at a press conference, where Western-state Democrats 
and House Minority Leader Richard Gephardt, D-Mo., criticized the Bush 
administration and House Republicans for inaction in response to the looming 
electricity shortage expected to spur blackouts and extreme price spikes in 
California and neighboring states this summer. 

The legislation and criticism spurred immediate reactions from House 
Republicans. 


"Capping wholesale prices won't solve the problem. It will only complicate 
the solution," said Rep. Billy Tauzin, R-La., chairman of the House Energy 
and Commerce Committee. 


"We want to help California. But strangling incentives to invest in the 
state's power infrastructure, in my opinion, would have a devastating impact 
on California's economy," Tauzin said. 


House Energy and Clean Air Subcommittee Chairman Joe Barton, R-Texas, 
defended his planned Western-state electricity relief legislation, which 
doesn't contain a price-cap mandate. 


"We are involved, and if there is a feasible federal solution, we will find 
it and see it passed," Barton vowed. 


-By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com