Another Perspective

摘要

Over the past year, we have seen a situation develop that has placed one of the world's largest economies—California—in jeopardy. Rolling blackouts in the land of Hollywood and the Gold Rush? Absolutely unthinkable! Electric companies know what happened. California's pioneering deregulation plan was flawed. The expectations of lower prices and more choices were eclipsed by the misalignment of supply and demand. Frozen retail rates and forced spot-market purchasing ensured chaos. The situation has already forced one utility (as of this writing) into bankruptcy.