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And if you don't do it right things can get all screwed up in a hurry. California tried to do this with some really bad rules (power companies must by power in
by njarboe 8y ago
And if you don't do it right things can get all screwed up in a hurry. California tried to do this with some really bad rules (power companies must by power in an unregulated spot market but sell into a regulated market for some number of years) in 2000 and ended up with the bankruptcy of PG&E, rolling blackouts, $40 billion lost by the state of California due to manipulated inflated prices, and the only successful recall of a California Governor in history. [1] for the gory details.
[1] https://en.wikipedia.org/wiki/California_electricity_crisis https://en.wikipedia.org/wiki/California_electricity_crisis
- azernik 8y agoYeah, designing a market is hard and needs professional economists involved, not just politicians riddled with conflicts of interest and taking all their information from lobbyists.