The California Electricity Crisis

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The book delves into California's energy market crisis that began in May 2000, examining the failures of restructuring and its lasting economic and political impacts. It highlights the severe financial distress faced by the state's utilities, with San Diego Gas & Electric recovering more successfully due to high retail prices. The narrative underscores the necessity of reconciling competition with regulation to restore California's economy. Emphasizing past successes with pragmatic solutions, it argues for a similar approach to revitalize the state and mitigate long-term damage.