Hasnt California deregulated rather than restructured its power markets?
No. California moved from a regulatory design that focused on the California Public Utilities Commission (CPUC) establishing regulated retail rates and service requirement under a monopoly provider model toward a system that relies upon competitive markets to establish prices and services associated with the generation of power. However, most aspects of the power industry are still pervasively regulated by the federal government or a variety of state institutions, and aspects of power production and delivery will always require regulation. For example, anyone who wants to build a significant new thermal power plant in California must still have it approved by the California Energy Commission. All entities selling power in the wholesale markets are subject to rate regulation by the Federal Energy Regulatory Commission.
