Switching electric utilities may soon be almost as easy as switching on a light. That's the general consensus of utilities, consumer groups, and regulators. But they can't agree on how to change the current regulated monopoly system to a competitive market.
Electricity deregulation has been gaining momentum since Congress opened up the wholesale power market in 1992. In 1994, California's Public Utilities Commission said it would take the lead in re-wiring the retail electricity market for competition. Other states looked to California as a possible model for their deregulation plans. Now after two years of heated debate, the PUC has voted 3-2 in favor of a compromise proposal supported by Gov. Pete Wilson and Southern California Edison, the state's largest utility.
Beginning in 1998, power generators will sell electricity in a …