If signed by Governor Davis, who has previously indicated support for the plan, the law would create a public power and conservation financing authority for the state of California. Like the Los Angeles Department of Water and Power or the New York Power Authority, the state power authority would be empowered to build and own power plants, develop and implement efficiency and conservation programs and contract with private companies to ensure reliable and affordable power for California consumers. Unlike Enron, Duke Energy and other members of the power cartel, a California power authority would be accountable to California taxpayers rather than private shareholders. Throughout the country, public power agencies have lower rates because they do not require a profit margin or pay dividends.
Public power is an old idea whose time has come in California.
The public power agency will provide consumers with energy reliability, affordability and safety, the pillars of a sound energy policy. In addition to building plants and financing efficiency programs, the authority could re-instate an integrated resource plan for the state's energy needs. Such planning, which provides a blueprint for meeting energy needs, fell apart as a result of California's 1996 deregulation scheme. Electricity deregulation meant an end to consumer-oriented planning and, instead, created incentives for the new energy cartel to tighten supplies and gouge California consumers. All Rights Reserved.