The spectacular collapse of Enron has highlighted the volatility of the industry and the difficulties encountered in deregulating it. While Britain and the EU has been a relative success story, California has faced disastrous results, writes Felicity Clarke
British consumers have every reason to feel smug this winter as they bask in the warmth of their successfully liberalised energy markets. In the US, the future of electricity deregulation is in doubt as Enron goes down in the history books as the world’s biggest bankruptcy and Californian consumers endure another winter of soaring power prices and looming blackouts.
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