Regulations boost California Power prices 31%!

Via PasadenaPundit, we learn that California ratepayers pay a premium on their electricity because of the state's tangled regulatory web:

While the market hub known as Mid-C or Mid-Columbia is only seconds away from Southern California on the DC Intertie, Platt's reports that traders require a 31% risk margin for transactions in California's administered markets versus transactions in the Pacific Northwest's open markets.