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Thursday, 18th January 2007

California’s Electricity Market: A Post-Crisis Progress Report

California’s Electricity Market: A Post-Crisis Progress Report
Source: Public Policy Institute of California
From press release:

In the nearly six years since California endured skyrocketing electricity prices and almost daily rolling blackouts, the state’s efforts to resolve its electricity market woes remain very much a work in progress, according to a study released today by the Public Policy Institute of California (PPIC). Moreover, there is currently no transparent, user-friendly way for policymakers or citizens to monitor the state’s post-crisis strategies – a problem, the report says needs to be addressed by the California Public Utilities Commission (CPUC) and the California Energy Commission (CEC).

Since the 2000-2001 electricity debacle, California has taken an active and aggressive role in balancing customer needs and environmental concerns by using a hybrid of market and regulatory tools, according to the report. While the first, flawed deregulation plan relied solely on the market, the current strategy is a mix of measures that seek to benefit from the best that both competition and regulation can provide. However, this approach has tilted more heavily toward developing regulations, leaving important questions about the ultimate role electricity markets will play in California’s future unresolved. Failure to use competitive markets could reduce efficiency and increase customers’ costs.

+ Full Report (PDF; 427 KB)


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