The purpose of the California Consumer Power and Conservation Financing Authority (CPA) is to assure a reliable supply of power to Californians at just and reasonable rates, including planning for prudent energy reserves. The CPA was also created to encourage energy efficiency, conservation, and the use of renewable resources. The CPA is authorized to issue up to $5 billion in revenue bonds to finance these activities.
After two and a half years, it was apparent that the CPA was providing minimal value in assisting the state in meeting its energy objectives.
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