Speakers:

Stephen Frank, Chairman, President and Chief Executive Officer, Southern California Edison (Rosemead, CA)

Andrew Hausman, President, Bloomberg PowerMatch (New York, NY)

Loretta Lynch, President, California Public Utilities Commission (San Francisco)

E.J. (Gene) Voiland, President and Chief Executive Officer, Aera Energy (Bakersfield)

Moderator:

Ross DeVol, Director of Regional and Demographic Studies, Milken Institute

Summary:

This session was presented by four exceptionally qualified individuals — Stephen Frank, head of Southern California Edison, Loretta Lynch, President of the Public Utilities Commission, Andrew Hausman, President of Bloomberg PowerMatch and E.J. Voiland, President and CEO of Aera Energy.

Much of the session involved an analysis of the dynamics that created California′s energy crisis in the first instance. Voiland summed it, stating that the unusual confluence of more than half a dozen factors together made the situation unavoidable.

While all four panelists agreed that the crisis is over, there was disagreement on the issue of deregulation. Hausman opined that full deregulation with proper controls would work but Frank differed, arguing that the "markets will provide" axiom does not apply to energy. He favors regulation. Lynch and Voiland sided with Hausman, while emphasizing a role for government and accountability.

View transcript.

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