L.E.A.P.S. On the Ropes.

Back in February we talked about Nevada Hydro's attempt to get public fiancing for its proposed Lake Elsinore Hydroelectric Project by tapping the Transmission Access Charge (TAC) for a little free money. The idea sounded "aggressive," but now it sounds "dead."

CAL ISO weighed in yesterday with a report it delivered to FERC in which it opposed the move in the strongest possible terms.

Without public money, there is basically no way this thing gets built because it is projected to lose $150 million a year.

Hydro plant financing plan panned [North County Times]