Surprise! Not.

A panel found there was manipulation by energy companies during the 2000-2001 energy "crisis."

Snip:

"On one hand, the findings by the commission, which is made up of two members appointed by President Bush and one selected by President Bill Clinton, are likely to put to put to rest any serious arguments that manipulation and misconduct played little or no role in the California energy crisis. Initially, state officials were widely mocked for accusing energy companies of profiteering, but an increasing body of evidence has emerged that illegal behavior contributed to price spikes.

"On the other hand, the commission still made it clear today that the state's own deregulated energy marketplace was naively constructed and severely flawed, and made possible the abuses since documented ..."