Enron took advantage of the situation to be sure but California's deregulation plan was truly laughable. Retail prices were capped forcing PG&E and Southern Ed

Enron took advantage of the situation to be sure but California's deregulation plan was truly laughable. Retail prices were capped forcing PG&E and Southern Edison to pay whatever rates Enron and Dynegy could force by manipulating supply. Utilities were also banned from buying long-term contracts to stabilize prices. The whole process was practically designed to fail.