Energy production and use in california
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Energy Production and Use in California. 2002. 2001. Source: California Energy Commission Source: California Energy Commission California Electricity Use (Average MW). Source: California Energy Commission.

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Source: California Energy Commission

Source: California Energy Commission

California electricity use average mw
California Electricity Use (Average MW)

Source: California Energy Commission

The dual crisis in california
The Dual Crisis in California

  • Electricity Crisis

    • Inadequate Supply

    • High Wholesale Prices

  • Financial Crisis

    • Draining all Financial Assets of Utilities

    • PG&E Bankruptcy

    • SCE Settlement after Almost Bankruptcy

    • Decimation of State Budget

Natural Gas Spot Prices in California Week


The dual crisis
The Dual Crisis Week

  • Although all municipal utilities and investor-owned utilities (IOUs) throughout the West faced the electricity crisis, on the California IOUs experienced the financial crisis.

  • Only these were under direct regulatory control of the California governor and the CPUC.

  • Two regulatory rules forced California IOUs into a financial crisis. IOUs were precluded from using long-term electricity purchase contracts to protect themselves from wholesale price spikes. Once wholesale prices sky-rocketed, Governor Davis and CPUC refused to allow retail price increases needed to keep investor-owned utilities financially viable and to encourage energy conservation.

Long Term Contracts Entered Into By California Week

Expected Price Range with $3 - $5 Gas

Bond payments
Bond Payments Week

  • $13 Billion Bonds Proposed

    • 15 Year Payments

    • 4% to 5% Interest

  • Annual Payment for Next 15 years: $1.2 Billion Per Year

  • Arnold schwarzenegger s announced energy program
    Arnold Schwarzenegger’s Announced Energy Program DuringCampaign

    • Create a coherent energy strategy to stimulate private investment; align the state energy agencies to support that strategy

    • Reform the wholesale power market to ensure stable supplies

    • Reform retail power markets to ensure competitive prices and better demand response

    • Assure adequate electricity generation capacity

    • Assure adequate and diverse fuel for power generation

    • Support all cost effective conservation and efficiency

    • Increase the reliability of the transmission grid

    • Support and encourage appropriate energy research and development

    • Explore ways to lower the cost of California’s overpriced power purchase agreements