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2003-04 Seminars


Re-Regulation in California

Dmitri Perekhodstev
CEIC

Abstract

The California energy crisis in 2000-2001 and the discovery of the Enron gaming strategies applied in CA showed that the California energy markets are far from efficient. The California ISO is currently working on a new market design (MD02, with its final implementation date delayed until 2005) which is supposed to fix the drawbacks of the old one. I will compare the current market design with the proposed one and examine some implications for California utilities.