Jeffrey Gundlach: ‘California is headed to a massive electricity shortage, has no plans to increase electric power generation…’

California Declares Grid Emergency, Warning of Blackouts
California officials declared a statewide grid emergency to cope with surging demand for power amid a blistering heat wave, raising the prospect of rolling blackouts.

The California Independent System Operator issued a level-1 energy emergency alert around 3:10 p.m. local time Wednesday after tapping all of its available power supplies. The notice, which comes after officials asked homes and businesses to conserve, is a warning that the state is anticipating power shortages.

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It’s the biggest test for California’s grid since the summer of 2020, when rolling outages engulfed portions of the state. It comes as Russia’s war in Ukraine triggers an energy crisis in Europe and as record temperatures driven by climate change tax grids around the globe.

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