We told you so! TURN’s worst fears about deregulation are realized as wholesale energy prices go through the roof and greedy generators ship power out-of-state, causing rolling blackouts throughout California. PG&E hands off all its money to parent corporation and declares bankruptcy; over TURN’s objections CPUC bails out Edison, SDG&E and PG&E. TURN wins a major legislative victory in protecting baseline electric usage from the rate hikes that inevitably follow deregulation, and begins to battle an expensive, new utility scheme: smart meters.