We told you so
The headline on the front page of the SF Chronicle today, "New push to deregulate energy" was a shock only in that it came the same week as the recall, before Herr Arnold even takes office. Seems like the Gov.-elect's energy plan has been formulated by the same Pete Wilson team that brought us the 1996 deregulation plan that turned out so well... for Enron.
Under the new plan, large businesses can contract directly with suppliers, so the entire $50 billion dollar liability in utility debt and high-rate long-term contracts would be borne by small ratepayers, e.g., you and I. And California would give up control of the state grid (Cal ISO) to Bush's Federal Energy Regulatory Commission, which refused to intervene to cap rates to halt the last "energy crisis."
What does this all mean?
We're screwed...again.
Let's just hope that the Democratic legislature and public outrage can limit the damage.
