LBO #85 contains an excellent analysis of Working Assets involvement in electric utility deregulation by Jeffrey St. Clair. From what I've read and from people I've talked to, everything in St. Clair's story rings true and may even be somewhat understated.
One thing that Jeffrey St. Clair does not mention is the electric utility deregulation lobbying group named, believe it or not, ELCON. A more perfect name I don't think they could have picked.
Without going into a lot of boring and dismal details, electric utility deregulation means higher electric rates, higher taxes, poor service and the possibility of a Chernobyl or two. Now it is true that one or two big industrial or commercial users might in the short term cut their cost per kwh a cent or two if deregualation is forced through. In the long term they would be cutting their own throats in terms of system reliability and taxes. Particularly after people catch on to the scam.
Sincerely, Tom