Which Way, L.A.?

Power Contracts

For months, Gray Davis has been declaring that long-term contracts with power generators will provide respite from California's energy crisis. Critics criticize the long-term strategy as an expensive solution to a short-term problem. Falling spot-market prices would seem to prove them right. We reassess the productivity and politics of California's power contracts with an economist, a spokesman for the governor, a state Assemblyman who's seeking public disclosure of the state's electricity contracts, and a representative of Houston-based Enron Corporation.