I hope Texas does better than Calif in this electricity deregulation. It's going to take a generation to pay-off the $10 BILLION power bill that we incurred in the past 2 years.
The Democrats are mostly to blame, but a few Republicans also voted for this bill, and a Republican governor signed it into law. The Democrats wanted cheaper electricity for their poor people, and the Republicans wanted cheaper electricity for the business. Pretty much an unholy alliance. You know you got troubles when both the Repubicans and Democrats support a bill.
But the current debacle is squarely blamed on Gray Davis. He selected people to buy power for the State who knew ZERO, nada, zip, about buying & selling electrical power; and they bought too much, and since this electricity can't stored, it has to be sold on the open market at greatly reduced prices, and suffering a loss. And now the democrats are whining that they paid too much and want out of their long term power contracts after prices of power has dropped. I wonder what is the definition of a long-term contract? Of course the electrical power providers don't want to let them/us off the hook. So stay to see what happens next.
These legislators are still operating under the principle, "if we pass a bad law and we have problems with it, we will fix it later."
And in the mean time, they still manage to pass more restrictive gun laws.