The 2002 rhetoric sounds like pro-electric competition, but is it too little, too late?
It's no secret that Californians like happy endings. Just look at most Hollywood movies, which like to tie up the story's loose ends in less than two hours (usually). But in its recent efforts to tie up the loose ends left from the California Crisis, is the state setting itself up for a sequel, California Crisis II: A Not So Beautiful Market.
Like all sequels, this one may include a new cast of characters, in addition to some of the old. GOP gubernatorial candidate and former Los Angeles mayor Richard Riordan, while supporting federal price caps, believes in direct access, deregulation, renegotiation of long-term contracts, and the abolishment of California's new power authority. Businessman Bill Simon supports direct access, opposes federal price caps, believes California got electric competition wrong, and wants to abolish the power authority. Secretary of State Bill Jones is pretty much in line with Mr. Simon, and we all know where Gov. Gray Davis falls on the issues - he wants greater state involvement in markets. It's amazing that these candidates can voice a pro-competition position without pies being thrown, and after the billions the state spent on the Crisis.