Price Limits Extended on Power
June 18, 2001
By JEFF GERTH
Broadening efforts to rein in California's power
crisis, regulators ordered that restraints on prices be applied at
all hours and extended them to 10 other Western states.
Natural Gas Prices Remain High in Southern California
June 5, 2001
By RICHARD A. OPPEL Jr.
To many experts, the woes of California's natural gas market are as
profound as those of its electricity market.
California Utility Says Prices of Gas Were Inflated
May 9, 2001
By RICHARD A. OPPEL Jr. and LOWELL BERGMAN
One of California's struggling utility companies accused the El Paso
Corporation yesterday of artificially inflating the price of natural gas in the
state by $3.7 billion over the last year by using its partial control of a
major pipeline to curtail the flow of gas.
Power Concern Offers California a Secret Deal
May 2, 2001
By JEFF GERTH and LOWELL BERGMAN
Duke Energy, a power-generating company accused of overcharging customers
millions of dollars during California's year-old energy crisis, has secretly
offered Gov. Gray Davis a deal that it hopes will solve its legal problems
while helping to calm the state's chaotic electricity markets.
While a Utility May Be Failing, Its Owner Is Not
April 30, 2001
By RICHARD A. OPPEL Jr. and LAURA M. HOLSON
Pacific Gas and Electric, the giant California utility, may have just made one
of the largest bankruptcy filings in history, but it has been a banner year for
the rest of its parent company, the PG&E Corporation.
Plan on California Energy Has No Shortage of Critics
April 27, 2001
By JOSEPH KAHN
A novel plan by federal regulators to control California's runaway electricity
prices is a messy, politically motivated compromise that may offer some relief
to consumers but will do little to fix the state's dysfunctional energy market,
California's Largest Utility Files for Bankruptcy
April 7, 2001
By LAURA M. HOLSON
The Pacific Gas and Electric Company, California's largest investor-owned
utility, filed for bankruptcy protection today, declaring that politicians and
regulators had not moved quickly enough to resolve an energy crisis that has
caused periodic rolling blackouts and is costing the state billions of dollars.
By the early 1990s, electricity rates in California were on average 50 percent higher than the rest of the U.S. In 1995, the state legislature unanimously passed a bill to open the industry to competition, but now consumers are paying almost twice the rate they did before deregulation, and suffering rolling blackouts. Here's a summary of the events.|
What, exactly, happened in California? Some have attributed the state's energy
woes to the "perfect storm" theory: California fell victim to a number of
different problems that, taken individually, wouldn't have equaled a crisis,
but through a combination of a flawed deregulation scheme, the effect of the
drought, and several other extenuating circumstances, California was caught in
the eye of a storm. Here are the views of business professor Severin
Borenstein; U.S. Vice President Dick Cheney; California Governor Gray Davis; Robert Glynn, CEO of PG&E Corp.; consumer advocate Nettie Hoge; Enron Chairman Ken Lay; California's chief regulator, Loretta Lynch; Duke Energy CEO Richard Priory; former Secretary of Energy Bill Richardson; Enron CEO Jeff Skilling; and Stanford economics professor Frank Wolak. |
For more on the roots of the crisis, see this overview
from the San Francisco Chronicle.
Critics have accused FERC Chairman Curt Hebert of being a free market ideologue
who is blindly devoted to the free market. Did FERC neglect its obligations as
an energy market monitor and exacerbate -- or cause -- California's crisis? Here are the views of business professor Severin Borenstein; FERC Chairman Curt Hebert; consumer advocate Nettie Hoge; Enron Chairman Ken Lay; California's chief regulator, Loretta Lynch; FERC economist Ron Rattey; Enron CEO Jeff Skilling; and Stanford economics professor Frank Wolak.|
This timeline chronicles California's deregulation process, the ensuing
electricity crisis, and state and federal approaches toward solving
Here is a collection of links that provide more information on what happened in
California, and who the players are.|
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