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Commentary #02 Silvia Panico January 18, 2001 Section Covered: 02 Word Count: 446 Rene Sanchez and William Booth, (01/14/01), California's Energy Future looks Dim , Washington Post, A1-A18 CALIFORNIA'S ELECTRICAL MARKET About a week ago, the two main electric utilities of the state of California, came very close to call a state of bankruptcy, and were forced to leave most of the state without electricity. This bankruptcy was due to numerous factors. The first one was that the government had recently deregulated the electrical sector, but still kept in place retail price caps for the utility companies which delivered the power to homes and businesses. During the harsh winter, which also increased demand, the power generators had to raise their rates because of an increase in the resources' prices. This reflected on the utilities who couldn't increase their prices as they wanted, because they were restricted by the government. If we analyse this case...

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