Two decades ago, when California deregulated the delivery of electric power, lawmakers, regulators and even some environmentalists hailed the decision as a way to lower consumers’ bills. The strategy proved disastrous. The plan resulted in an energy crisis that sent power bills soaring, prompted billions in penalties against utilities and banks for manipulating the new electricity market, and led Congress to enact laws to help prevent it all from happening again. Now the state’s leaders have a new proposal for an energy makeover, this time to create a single authority to manage the electric grid for most or all of the West.