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Pastimes : The California Energy Crisis - Information & Forum

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To: Bearcatbob who wrote (353)	5/31/2001 9:53:30 PM
From: Zeuspaul	Read Replies (3) of 1715

California is under some kind of regulation - just dumb regulation. More like dumb deregulation. Most of California's juice is free market juice bought on the spot market. There is no other state that buys as much juice on the spot market as California. What you are seeing in California is the result of market juice. California wanted market juice and that is what it got. California utilities had generating capacity. They sold the capacity to independent power producers so there would be a market for juice. Now California buys its juice on the market and the result is wildly fluctuating prices. That is the way a market works. The market caused California's current short term energy induced financial crisis. If California wanted low cost stable electric prices then it shouldn't have moved to market juice. The proof is in the results. California public regulated utilities have adequate juice at reasonable cost. Citizens buying juice from utilities that get their juice from the market have inadequate juice at high prices. A century of regulated electric power built a nation. This EXPERIMENT based on TEXT BOOK market theory doesn't work. Zeuspaul

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