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Non-Tech : The Enron Scandal - Unmoderated
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To: TigerPaw who wrote (253)1/15/2002 11:52:42 PM
From: Jorj X Mckie  Read Replies (2) of 3602
 
The facts are, that Wilson definitely was pro deregulation. And under Wilson, that plan went along fine. Where the problems arose was when the PUC, under Davis' authority limited what the retail energy providers could charge to the consumers. With no limit on the wholesale prices and with limits on retail prices, it forced the energy retailers into a situation where they had to operate at a financial loss.

The top three worst wholesale energy providers based on what they were charging the retailer providers were, in this order:
State of California
ENE
DYN

There was no real shortage of power though. Nobody that was receiving retail power from the state (myself included) ever had a power outtage.

The State of California set up an uneven playing field and took advantage of the situation along with the other energy wholesalers.
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