When individual states and FERC developed models for these artificial electricity markets, they essentially took something that worked very well and broke it up into dysfunctional pieces. Why?
Good question. The promise was lower rates to consumers.
Like you’d expect, this has been long forgotten.
This NY Times article discusses why it hasn’t worked to the consumers advantage, what the issues are, and glosses over what is probably the most difficult aspect, how the electricity markets actually work (or don’t).
A few familiar names turn up, such as Goldman Sachs and the Carlyle Group, who have proven themselves adept at gaming markets (and you thought it was just Enron?)
With Goldman, that would be the IPO frenzy of 1999. Carlyle, well, let’s just say all of our money isn’t going into Iraq isn’t just lining the pocket of Halliburton. The Carlyle Group has their hand in your other pocket.
The Cheney- Bush- Crony enrichment program: taking what’s rightfully yours and making it ours.