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California power prices soar to highest since 2020 in heat wave

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California power prices soar to highest since 2020 in heat wave


Energy traces are proven as California shoppers put together for extra doable outages following weekend outages to scale back system pressure throughout a brutal warmth wave amid the outbreak of coronavirus illness (COVID-19) in Carlsbad, California, U.S., August 17, 2020. REUTERS/Mike Blake

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Sept 6 (Reuters) – U.S. energy costs in California and different western states for Tuesday soared to their highest since California’s electrical grid operator imposed rotating outages in August 2020 as a brutal warmth wave lingers over the drought-stricken area.

The California Impartial System Operator (ISO) urged shoppers to preserve vitality on Tuesday for a seventh consecutive day as the warmth places even larger pressure on {the electrical} grid and considerably will increase the probability of rotating outages being launched for the primary time in two years.

“We want a discount in vitality use that’s two or thrice larger than what we’ve seen as far as this historic warmth wave continues to accentuate,” mentioned Elliot Mainzer, CEO of the ISO, mentioned in a launch.

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The ISO projected energy demand would attain all-time excessive ranges on Tuesday as houses and companies crank up their air conditioners to flee record-breaking temperatures. learn extra

If demand for energy exhausts the grid’s electrical reserves, the ISO mentioned it might instruct utilities to begin imposing rotating outages.

The final time the ISO ordered utilities to shed energy was for 2 days in August 2020 when outages affecting about 800,000 houses and companies lasted wherever from quarter-hour to about two-1/2 hours.

“We by no means wish to get to that time, after all,” Mainzer mentioned, “however we would like everybody to be ready and perceive what’s at stake.”

The ISO forecast demand would peak at 51,044 megawatts (MW) on Tuesday, topping the present document of fifty,270 MW in 2006, earlier than sliding to 50,002 MW on Wednesday.

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Energy costs on the Palo Verde hub in Arizona and SP-15 in Southern California rose to $850 and $505 per megawatt hour, respectively. That was their highest ranges since hitting document highs of $1,311 in Palo Verde and $698 in SP-15 in August 2020 when the ISO final imposed rotating outages.

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Reporting by Scott DiSavino; Modifying by Susan Fenton

Our Requirements: The Thomson Reuters Belief Rules.



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Lakers News: Schedule, Location Determined for LA in California Classic

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Lakers News: Schedule, Location Determined for LA in California Classic


The timing and locale for the Los Angeles Lakers’ participation in this year’s impending California Classic Summer League have been revealed.

Per Jason Anderson of The Sacramento Bee, the Sacramento Kings and Golden State Warriors are set to co-host the event this year. The California Classic happens ahead of the bigger Las Vegas Summer League.

12 total contests will be played between July 6-10, all told. Three of the four California teams will attend (the L.A. Clippers will sit out). The Lakers, Warriors and Kings will be joined by the Charlotte Hornets, San Antonio Spurs, and Miami Heat. The Warriors, Lakers and Heat are all scheduled to suit up in San Francisco, while the other clubs will play in Sacramento, before a Warriors-Kings game in San Francisco concludes the festivities.

Last year, Los Angeles selected former Indiana Hoosiers point guard Jalen Hood-Schifino with the No. 17 pick in the draft, plus ex-Pepperdine forward Maxwell Lewis with the No. 40 pick. Neither contributed meaningfully to the club’s win-now roster. This season, L.A. possesses the No. 17 selection once again, plus the No. 55 pick in the second round.

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Newsom’s latest insurance move could help Californians avoid cancelled policies — but they’ll have to pay

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Newsom’s latest insurance move could help Californians avoid cancelled policies — but they’ll have to pay


As some Californians continue scrambling for ways to affordably insure their homes, Gov. Gavin Newsom on Friday announced a push to expedite how quickly insurance companies can increase rates.

Speedier approvals for rate hikes is one of the key reforms insurers say is necessary for them to stay afloat amid a growing number of costly claims in the Golden State, especially tied to recent wildfires and other mounting costs of climate change.

Newsom said he is drafting a “trailer bill” that could cut the current approval process down to 60 days — legislation he hopes will quell an exodus of insurers bailing their business out of California and soothe residents’ financial anxieties around canceled policies.

The current process allows the Department of Insurance up to 84 days to approve filings for insurance rate increases, but that timeline can take substantially longer if a public hearing is requested by consumer advocates or other groups.

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“We need to stabilize this market,” Newsom said during a Friday press conference about his revised budget proposal. “We need to send the right signals, we need to move.”

While this change may temporarily usher in more expensive bills for consumers, proponents argue the changes will make home insurance more available. In turn, more options may also allow residents to avoid taking their chances with California’s “FAIR Plan,” the state’s “insurer of last resort,” which offers exorbitant premiums compared to regular insurance, and is also inching towards insolvency.

Denni Ritter, the American Property Casualty Insurance Association’s department vice president for state government relations, praised the news about expedited approvals Friday afternoon.

“Expediting the rate review process is a vital component to addressing California’s insurance crisis,” Ritter said in a statement. “We look forward to working with the Administration, Legislature and Department of Insurance on this crucial reform and other reforms necessary to fix our broken regulatory system and increase the availability of insurance for California homeowners, drivers, and businesses.”

The governor said he opted to work with state lawmakers on this “trailer bill,” rather than pursue an executive order to move the process along.

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California’s Insurance Commissioner, Ricardo Lara, started working with Newsom last fall to modernize and overhaul three decades of state’s regulations, including efforts to allow insurance companies to use catastrophe models to set rates, as well as bill consumers for the costs of reinsurance, which is insurance for insurers.

Lara said that ongoing work, however, isn’t expected to materialize until December.

That timeline isn’t fast enough in the governor’s eyes. If Newsom’s bill is passed within the state’s budget for 2024-25, it may take effect as early as July 1.

“(Lara’s) team is working their tails off, I know how concerned the legislature is on this,” Newsom said. “But December? I don’t think we have that much time.”

Rather than push back on Newsom’s announcement of his new bill, Lara thanked the governor’s support of his own effort, which has been dubbed the Sustainable Insurance Strategy.

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“Newsom is right: time is of the essence,” Lara posted to X, formerly Twitter, on Friday. “Our partnership with the Governor and Legislature are essential to stabilizing our market. We’ve taken significant steps forward, but there is more to do.”



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California teen rowers, parents left 'shocked' after gunman fires into water during regatta event

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California teen rowers, parents left 'shocked' after gunman fires into water during regatta event


Gunfire near a regatta of teen rowers in California during a race, left parents and students “shocked” and “horrified.”

West Sacramento police are investigating the incident after at least three gunshots hit the water near teenage rowers where the Oakland Stroke Rowing Club was racing along the Sacramento River Deep Water Ship Channel on April 20.

There were 15 and 16-year-olds rowing, police said.

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General rowing team. West Sacramento police are investigating after gunfire was shot near a rowing team in California on April 20. (AP Photo/Camden Courier-Post, Jose F. Moreno)

One parent told FOX 2 that people were “shocked” that gunfire interrupted the “peaceful” setting.

“I was pretty shocked. I think all of us were. It’s horrifying, to think in this peaceful, green setting, the final push of this race – to see and hear that.” Fred Ackerman told the outlet.

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French rowers take part in a team practice session on the waters of Grand Parc Miribel Jonage near Lyon, central-eastern France on May 10, 2024.  (OLIVIER CHASSIGNOLE/AFP via Getty Images)

Ackerman said that despite there being dozens of people around at the teen sporting event, no one spotted the alleged shooter.

“No one saw the shooter,” he said. “There were dozens and dozens of people, there were boaters and people walking around on the trail. The police don’t know where the shots came from, but they do know it was a gun.”

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The West Sacramento Police Department is encouraging anyone with information about the gunshots to contact the department’s Investigations Division.





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