California electricity crisis

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The California electricity crisis was a period in 2000–2001 marked by rolling blackouts, skyrocketing power prices, and market manipulation by energy companies that exposed major flaws in the state’s deregulated electricity system.

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Predicate Object
instanceOf electricity crisis
energy crisis
historical event
alsoKnownAs California electricity crisis
surface form: Western U.S. energy crisis of 2000–2001
characterizedBy high wholesale electricity prices
market manipulation strategies such as "gaming" and "megawatt laundering"
plant outages and capacity withholding
retail rate freezes for utilities
country United States of America
surface form: United States
endTime 2001
exposed flaws in California’s deregulated electricity system
followedBy 2003 California gubernatorial recall election
governmentResponse California Department of Water Resources power‑purchasing program
long‑term electricity contracts signed by the State of California
price caps imposed by Federal Energy Regulatory Commission
hasCause electricity market deregulation in California
generation capacity constraints
inadequate long‑term power contracts
market manipulation by energy companies
wholesale–retail price mismatch
hasEffect bankruptcy of Pacific Gas and Electric Company in 2001
downgrading of California state credit rating
financial crisis for California utilities
large state budget deficit in California
political crisis for California state government
recall movement against Governor Gray Davis
rolling blackouts in California
skyrocketing electricity prices
involves California Independent System Operator
California Power Exchange
California Public Utilities Commission
Duke Power Company
surface form: Duke Energy

Dynegy
Enron
Federal Energy Regulatory Commission
Mirant
Reliant Energy
locatedIn California, United States
surface form: California
mainVictim California electricity consumers
Pacific Gas and Electric Company
San Diego Gas & Electric
Southern California Edison
partOf history of energy policy in California
precededBy California electricity market restructuring of 1996
regulatoryFramework California electricity market deregulation of the late 1990s
significantEvent Stage 3 power emergencies in California
rolling blackouts in January 2001
state intervention to purchase power
startTime 2000
timePeriod early 21st century

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Referenced by (4)

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Enron: The Smartest Guys in the Room focusesOnEvent California electricity crisis
NEPDG relatedTo California electricity crisis
this entity surface form: U.S. energy crisis of 2000–2001
National Energy Policy report politicalContext California electricity crisis
California electricity crisis alsoKnownAs California electricity crisis
this entity surface form: Western U.S. energy crisis of 2000–2001