More questions than answers in Ferc’s California report

Reams of information, but few decisions. Such was rating agency Fitch’s initial assessment of the Federal Energy Regulatory Commission’s (Ferc) report on the California power crisis. This conclusion reflects a widespread feeling that the repercussions of the crisis will be felt for some time.

The long-awaited Ferc report into the western US power crisis – released on March 26 – alleges widespread manipulation of the California market by energy firms. But perhaps more importantly, the outcry over