[d14truth]

"Though no ``smoking gun'' has been revealed, the report's author said, the newly deregulated market was ``ripe for the exercise of market power.''

Utilities also relied too heavily on the volatile spot market, rather than buying long-term contracts with steady prices".

Davis gambled and lost(our money) and still managed to 'sucker' enough votes to win. Whoda fools?

[snopercod]

Utilities also relied too heavily on the volatile spot market, rather than buying long-term contracts with steady prices"

For the record, it was the CPUC who made it impossible for the utilities to make long-term contracts.