The "gamble", as you put it, was changed significantly when deregulation
moved the goal-posts. It was dependent on the utilities retaining control of
generator costs. The de-regulators were supposed to cover that scenario.
They didn't. If an indivudual tried this, with another individual, they call
it extortion and the individual in queston would be rotting in jail. The
salient fact is that the generators are threatening to bankrupt PG&E unless
the state pays the extortion amount, by midnight.
Does anyone have a clue what would happen if the state doesn't pay? Would
the state have to step in and start operating PG&E? IMHO, if this isn't
corrected, todays rolling blackouts will be trivial, compared to a total
PG&E collapse of services.