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I believe his thesis will be that criminals or those who did illegal things while making these contracts, make these contracts invalid.
If the Senator wins, what is likely to happen is that SCE will file a lawsuit against the state and the consultant for damages. The consultant probably has some insurance but not enough to cover the losses, so the deep pocket is really the state. How could the state be liable? Because it did not properly enforce the conflict of interest rules or because it did not properly employ checks and balances in the contract review/negotiations process.
So, what is the outcome likely to be....damages filed against the state and more legal fees changing hands.
Now, from a political perspective, will this embaris the Davis administration? Not likely, Davis is beyond shame.
Not sure I see the value in the litigation, except for some republican to say "me too," when Davis talks about protecting the electric customes from profit gouging power companies (not!).