d have sudden shutdowns with no justifiable reason. Shutdowns were calculated to shrink the amount of power available driving up the price. They would hold back power until the state is desperate and vulnerable. They could sell power at super high rates. They sold power to other states. Selling to other states allowed for an increase in wholesale prices. The California utility companies had planned to make a large amount of profit off of deregulation. These companies are now going bankrupt and looking for a way out. They acted socially irresponsible in many ways. They escalated the market causing higher prices and a shortage of electricity. The industry was aging and needed modernization. Companies invested money in other countries and states ignoring Californias problem. Companies used regulatory officials and others illegally to benefit themselves and not their customers. Companies used fraudulent tactics to cause prices to rise. The utility industry will need a major redesign in the future to repair consumer confidence....
