Governor agrees to sign it. UCAN calls for massive reform of the broken energy market. Centerpiece creation of California Power Authority, state takeover of transmission grid and electric procurement for small customers and merging the ISO and PX with greater accountability to state. UCAN unites four large law firms who bring a major class action lawsuit again independent generators and marketers selling inflated power into California. For the first time, the ISO declares a Stage Three emergency when power reserves fall below 1.5 percent.
Officials say conservation efforts averted rolling blackouts throughout the state.
The increases will be about 9 percent for homes, and between 7 percent and 15 percent for businesses. Wall Street ratings services significantly downgrade the two investor-owned utilities after the PUC's announcement. Mirrors the UCAN proposal UCAN supports it. Jan. 8 - Governor Davis to announce his proposal for dealing with energy crisis in his State of the State address.