Entertaining and fully disclosed - but less potent than market power

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.

Last week, Jim explained what the 2001 Californian Power Crisis did for the political career of Arnold Schwarzenegger, amongst others. This week he talks specifically about how Enron made its money in California – the strategies are well disclosed but what they made was peanuts compared to some of the other players!

In August, Bushnell gave a lecture in Wellington asking If Electricity Liberalisation is So Great, why does everybody hate it?