I have a friend who periodically gets into trouble. Whenever we review the history of an episode, his explanation is always the same: “It seemed like a good idea at the time.”
Such hindsight leaps to mind as California lawmakers once again overhaul the state’s electricity industry. History suggests that consumers will pay dearly to see how this movie ends, regardless of whether the result justifies the price of admission.
Federal data indicates Californians paid $171 billion in higher costs for power over the last 20 years, compared to the national average. For perspective, this works out to roughly $12,300 per household, but bear in mind the total includes residential, industrial, commercial and government usage.
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