The state of California, which deregulated its power industry using a model remarkably similar to that implemented by the Kennett Government in Victoria, has been left with both a power crisis and the bankruptcy of its power utilities, which could seriously damage the US economy.California’s Governor, Gray Davis, was forced to declare a state of emergency, as rolling blackouts were imposed throughout America’s largest state with a population of 34 million people.In a further coincidence, one of …
