Not Invented Here: What California Can Learn From Elsewhere About Restructuring Electricity Markets

Almost two decades have passed since Chile began its pioneering effort to restructure its electricity sector, followed by Argentina and England and Wales about a decade later. In almost all of the countries that have undertaken restructuring, the results have been at least a qualified success – and often a resounding success. California’s results, however, have been an unmitigated disaster. This study seeks to determine the differences in the policies of the different states and countries to develop a perspective on how California might proceed in the future.