FYI -

Below is a link to a report that contrasts the success of deregulation in PJM
with the problems in California. The report was written by a Washington, DC
consulting group, PA Consulting.

The report cites many of the issues we have identified in the past to explain
what went wrong with CA (limitations on forward contracts, regulatory and
environmental restrictions, siting issues, etc.) and concludes that "PJM has
demonstrated that electric power competition can successfully be a
fundamental part of the future for the US power industry and its electricity
consumers."

Jennifer

http://www.paconsulting.com/energy/PDFs/PJM_paper_final.pdf