Free Republic

The Public Policy Institute of California concluded that California's energy crisis cost the state as much as $45 billion over two years in higher electricity costs, lost business due to blackouts, and a slowdown in economic growth, according to a recently released study. The report concluded there was no single cause for the energy crisis, which peaked in the winter of 2000-01 and led to six days of rolling blackouts.

<p>Last year's rate hikes are still in effect, although wholesale prices are lower.</p> <p>LOS ANGELES -- Blackouts have ended and wholesale power costs have plummeted, but California's energy crisis continues to haunt consumers.</p> <p>Californians aren't paying any less for electricity even though wholesale power costs one-tenth of what it did when the state Public Utilities Commission approved a 30 percent rate hike 15 months ago.</p>