But the fad to open up the electricity market has faltered. Residential consumers have found little reason to switch to new power providers, and the promises of lower prices and a reliable electricity infrastructure have failed to materialize. The California energy crisis of 2000-2001, the financial scandals of energy giant Enron, and the massive Northeastern blackout in August 2003 have soured policy-makers, consumers and even some power companies on electric utility competition.
As a result, Arkansas, California, Montana, Nevada, New Mexico and Oklahoma have changed course and abandoned or indefinitely delayed deregulation. Oregon has limited electricity competition to large industrial customers, and pressure is rising in both Illinois and Michigan to pull back from utility restructuring. Consumers in many states also are bracing for rate hikes in coming years as price caps -- enacted to protect them during the early phases of deregulation -- expire.
"Nobody's benefited from deregulation – period, end of story," said Charles Acquard, executive director of the National Association of State Utility Consumer Advocates...."
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