In 2000 and 2001, California's power supply experienced the perfect storm.

The state was literally caught short, with short-term energy contracts that exposed it to a volatile and extraordinarily expensive market. A failure to invest in new plants left it without a sufficient power supply, and energy traders such as Enron Corp. were at the height of their dubious powers, making money off California taxpayers and others with bogus transactions.

Four years later, the landscape has changed considerably. California has entered into long-term contracts that minimize the possibility of being victimized by the "spot market" that led to soaring debt for the state and rolling blackouts for residents. Enron has fallen, and the federal Sarbanes-Oxley act has made it much harder for the likes of Ken Lay to make hay with fraudulent business transactions.

Despite the progress, California voters are being asked Nov. 8 to tinker with the state's dauntingly complex energy policy. Proposition 80, advanced by consumer organizations and unions, would broaden the authority of the California Public Utilities Commission over so-called ESPs, or electric providers other than utilities. It would also mandate that the state increase its reliance on renewable energy sources to 20 percent by 2010. These are just two of the proposition's several specific shifts in policy.

Recently, the Register editorial board held a meeting with Mike Florio, senior attorney with The Utility Reform Network, which favors Proposition 80; and Dan Pellissier, campaign manager for Californians for Reliable Electricity, a coalition of energy producers and related businesses that opposes Proposition 80.

In essence, Florio argued for more regulation of the California energy industry, while Pellissier argued for the relatively de-regulated status quo. After hearing their arguments, the Register urges voters to say no to Proposition 80.

The fact is, California is largely out of danger of a repeat catastrophe from the rolling blackout days, state law already has aggressive timelines for increased reliance on clean, renewable energy sources, and a measure as technical as Proposition 80 should not be handed to voters who will spend an average of a few minutes, at best, weighing its merits.

At the outset of our conversation, both Florio and Pellissier stated that they believe the rolling blackouts are an increasingly remote possibility, considering that the state entered into long-term contracts after the turn-of-the century debacle.

Florio railed at what he said is a California Public Utilities Commission "stacked" towards industry interests. He also noted that non-utility ESPs, such as Calpine, which are playing a larger role in the energy market, are not regulated by the CPUC. Finally, he advocated for a quicker timeline to renewable energy.

But the state currently calls for 20 percent use of renewable energy by 2017, just seven years later than Proposition 80 seeks.

The market for renewable alternatives is clearly growing, and if the recent consumer interest in hybrid vehicles is any example, the market will set the timeline for when consumers fully embrace these alternatives. Meanwhile, Pellissier pointed out that the a coalition of alternative energy interests, the Clean Power Campaign, does not back Proposition 80.

As for the regulation of ESPs, it may well be a wise idea, but it does not seem wise to wrap it in a bundle for voters to consider without the benefit of more deliberate study -- which leads to one overall concern about Proposition 80. In an abbreviated election campaign where the focus has fallen to the proposed reforms backed by Gov. Arnold Schwarzenegger, there has been almost no attention paid to Proposition 80. We're not convinced the voters have contemplated adequately the world of ESPs, Investor Owned Utilities (IOUs), community choice aggregation and renewables portfolios standards.

Proposition 80 may be the lowest-profile, most complex and least urgent question on a little-studied special election ballot. Meanwhile, California's energy crisis is behind us, and Proposition 80 does nothing to hasten its demise.

Vote no on Proposition 80.