Because the government opened up wholesale electricity to the free market, private firms now buy and sell power at whatever price they can get. The idea was to use the marketplace to ease energy prices, which have been soaring in virtually every region of the country except the Northwest. But private companies have been slow to build new power plants because they can't be sure market prices will justify the costs. There is also uncertainty about technology. New hydroelectric projects are out of the question because of environmental impacts.
Nuclear plants are too expensive and risky.
Gas-fired turbines are considered to be efficient, relatively quiet and relatively nonpolluting. And there is plenty of relatively cheap natural gas to fuel them. But there are only two turbine manufacturers and both are back-ordered, utility officials said last week. As we move toward deregulation, market signals are supposed to drive new generation. But so far, it isn't happening.