Californiaʹs Shocking Secret: Deregulation Did Work in Spite of Itself

Although Californiaʹs leaders chose to ignore the marketʹs message and exacerbate the problem, the overall market cost of electricity since “deregulation” began in California is lower than it was under the previous regulated cost-of-service structure. Looking at the facts, one can only conclude that despite our best efforts to sabotage it, the electricity market works—even in California.