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CALIF. PROVIDES PREVIEW OF DEREGULATION'S EFFECTS: ONE YEAR AFTER START, BENEFITS ARE NOW IN SIGHT.(electric utilities)
Crain's Chicago Business, April, 1999 by ELLIS IV, JOHN W.
OAKLAND, Calif. -- To see what the landscape of electricity deregulation will look like, Illinois businesses can gaze west. The Golden State paid electricity prices far above the national average, until the approval of deregulation in 1996 ended the monopoly of the state's three utilities.
Deregulation, which took effect last April, was meant to invite competition, which in turn would bring lower rates. A year after the process began, many California businesses still are confused and covering the utilities' previous investment costs, reducing their savings on energy expenditures. Yet observers say deregulation's benefits are starting to emerge. The California Public Utilities Commission (CPUC) estimates that stranded costs -- payments made by all...
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