See attached WSJ article, particularly the last paragraph.
The message is:  there has not been enough deregulation;  the government is still very much in  the way.
California is a perfect example:  the market has responded to  demand increases with thousands of megawatts of new generation, but state and  local officials have not sited them, and companies like Enron are offering  price protection, but utilities are not allowed to take advantage.

California Power Issue
See attached WSJ article, particularly the last paragraph.
The message is: there has not been enough deregulation; the government is still very much in the way.
California is a perfect example: the market has responded to demand increases with thousands of megawatts of new generation, but state and local officials have not sited them, and companies like <COMPANY> are offering price protection, but utilities are not allowed to take advantage.
attached wsj article particularly paragraph thousands company offering price advantage local officials sited allowed california perfect example message deregulation government megawatts new generation