| Abstract: | This article examines the changing roles of the federal andstate governments in electricity regulatory policy, includingthe history of electricity regulation and the development ofstate and federal regulatory powers. The case of Californiasuggests that deregulation has elevated the role of federalregulators and increased their responsibility to protect theinterests of the states beyond those of the market. The inabilityof the Federal Energy Regulatory Commission to protect Californiafrom predatory market manipulation demonstrates the necessityfor states to plan carefully to protect their multiple policyinterests. |
