[Carry_Okie]

You're right. How could such a minor player like Enron "bring California to it's knees", eh?

While it is true that California has only itself to blame for its inadequate generating capacity, this statement belies the ability of a bit player to manipulate price in a tight market, PARTICULARLY one that is restricted to the spot market. Now, WHY was the legislation written that way and who paid for it?

[snopercod]

WHY was the legislation written that way and who paid for it?

Beats me. AB1890 was one thing, but the implementing regulations are another. The feds are involved as well, with the "tariffs".

Who can figure it out? I can't, but Enron seems to have.

[independentmind]

While it is true that California has only itself to blame for its inadequate generating capacity, this statement belies the ability of a bit player to manipulate price in a tight market, PARTICULARLY one that is restricted to the spot market. Now, WHY was the legislation written that way and who paid for it?

Which may have been the point that the recent article in the WSJ was trying to make. The article did not accuse Enron of illegal activities in California, but it did suggest that laws should be changed to make what Enron did illegal.