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Abstract

On 20 April 1994, the California Public Utilities Commission (CPUC) released its “Blue Book” proposals for restructuring California’s electricity industry, sending shock waves through the industry. In particular, the CPUCs embrace of retail wheeling — or “direct access” in the parlance of the Blue Book proposals — sparked controversy. Critics assailed the CPUC for unleashing the precipitous $3 billion decline in the market value of the three major state utilities that followed the release of the proposals. Proponents hailed the CPUC for its farsighted vision and proactive efforts to embrace the competitive future. Whatever one’s perspective, however, no one could deny that the proposals initiated discussion and analysis that markedly advanced the understanding of structural requirements for competition in the electricity industry.

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© 1996 Kluwer Academic Publishers

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Parkinson, T. (1996). Making Bilateral Competition Work. In: Einhorn, M., Siddiqi, R. (eds) Electricity Transmission Pricing and Technology. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-1804-7_5

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  • DOI: https://doi.org/10.1007/978-94-009-1804-7_5

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-7304-2

  • Online ISBN: 978-94-009-1804-7

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