A failure of balance R olling blackouts, local utilities going bankrupt from selling electricity for less than it costs to produce. Governor Gray Davis declaring a state of emergency, and begging for intervention by Washington. The companies that led this legislation through the California assembly must have expected that the strict limits of rates, and power plant construction would be eased, to allow for the profitable sale and production of power. It wasn't reasonable for the legislature to turn electricity production in the state form a regulated monopoly, into a free market, and then to deny the companies profitability if they tried to produce power in, or sell power to their state.
Businesses are in business to make a profit.
Lots of them. It hasn't because those who run the nation's utilities, when not being sued by the EPA are reluctant to commit millions knowing the government will harass them every step of the way. If Al Gore is elected no new plants will be built and that is why you better start thinking about installing your own generator in the basement. It's a classic case of wanting your cake and eating it, too. California officials want more electric supply but don't want to have local consumers to pay for it.