A radical, Enron-Era measure revived as fires burn power giants
California's largest utility, PG&E, stands in chapter 11 insolvency protection in the after massive damages and sector disruptions caused by last year's forest fire. The state is now once again considering stepping into the shoes of utilities to secure power for millions of residents left in supply uncertainty.
BY BLOOMBERG NEWS, MARK CHEDIAK
Two decades ago, in the midst of an energy crisis and rampant power market manipulation, California took the radical step of buying electricity for millions of residents.
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