The way they've been gouging me for the past decade, I find it hard that
they're strapped for cash.  My home is modest, 2400 sq. ft., with a small
pool and hot tub.  My December and January bills have been in excess of
$500, and it can only get worse?  Guess I need a second job.

Ernie

-----Original Message-----
From: just.me [mailto:[log in to unmask]]
Sent: Wednesday, January 17, 2001 5:20 PM
To: [log in to unmask]
Subject: Re: [HP3000-L] OT: rotating blackouts ordered for Northern
California


Here in Arizona, the major utilities have told California Utilities they are
on a
cash only basis to buy future power.  Apparently  PG&E owes a lot of money,
and
may be on the verge of filing bankruptcy.

Wirt Atmar wrote:

> Mark writes:
>
> > Well, it's finally come to pass -- rotating blackouts have been ordered
for
> >  Northern California:
> >
> >          http://www.caiso.com/newsroom/releases/
> >
> >  MSNBC reports outages in the Bay Area.
>
> And it's only likely to get worse in the next little bit. Both PG&E
(northern
> California) and SCE (southern California) have now seen their stock
> downgraded to low-quality junk bond status. Both utilities, once among the
> largest in the nation, are now on the edge of complete financial collapse
> unless the state of California comes to their rescue.
>
> The event that precipitated today's rolling blackouts occured a week ago,
> when SCE retained its last $600 million dollars by stopping payment on all
of
> its debts. That move not only prompted the downgrade in its and PG&E's
> ratings, it also dramatically worsened the problem in California this
week.
> Out-of-state power producers have now stopped selling their excess
> electricity to the California utilities, simply because they don't believe
> that they're going to get paid, thereby forcing today's rolling blackouts.
>
> Further, the Western and Rocky Mountain state governments are getting more
> than a little grouchy about being forced to sell their electric power
> production to California by the US Dept. of Energy. Many of these state
> governments see California's predictament as putting them at risk, too.
>
> And to top it all off, Intel said last week that it was shelving all plans
to
> further expand or build new plants in California until the current
situation
> is straightened out -- which could be five to ten years from now.
>
> Wirt Atmar