Will the electrical Californian crisis perturb the liberalisation process in Spain?

Spain liberalised its electrical power sector in 1997-an hourly day-ahead non-mandatory pool with a single clearing price started operation in January 1998-after the approval of an Electrical Law that established a competitive framework for generation and supply of electricity. The adopted regulatory framework was strongly inspired by the Californian model, although some significant differences exist. The authors present their particular opinion about the Spanish situation after the Californian crisis, as well as the major topics to be reviewed. Firstly, their summarize their vision of the main reasons for the Californian crisis, and then they identify the significant similarities and differences with the Spanish system in order to postulate their conclusions.