[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.

[Grampa Dave]

Thanks for catching this. Shall we call it an innocent lie or the typical lie in trying to put the blame on the utility companies folling the rules set up by the deregging!

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

As Snopercod noted in his reply, this totally wrong: For the record, it was the CPUC who made it impossible for the utilities to make long-term contracts.