Wholesale Electric Restructuring: Was 2004 the “Tipping Point”?

Whatever happens, it is doubtful that we will ever return to the now almost touchingly naïve faith in open access transmission and competitive wholesale power markets that characterized the electric utility industry just a few years ago. Too much ratepayer blood and investor red ink has been spilled and too many expectations have been dashed. It may be time to ask whether we should continue down our current electricity policy path, or seek out a new direction.