Jim Bushnell on the current cases of price manipulation in US power markets

I’m talking to Jim Bushnell, an Associate Professor at the University of California, Davis – who was in New Zealand in August as the S.T. Lee fellow at the New Zealand Institute for the Study of Competition and Regulation. He gave a lecture in Wellington asking If Electricity Liberalisation is So Great, why does everybody hate it?

Last week, Jim talked about how Enron made its money in California. This week, we go back to the current cases that the federal regulator in the US has brought against JP Morgan and others for price manipulation in US power markets and Jim explains why it isn’t Enron all over again. It’s pretty complicated but that’s part of the problem.