At 17:03 17/01/01 -0500, Wirt Atmar wrote:
>Mark writes:
>
> > Well, it's finally come to pass -- rotating blackouts have been ordered for
> >  Northern California:

<snip>......

>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.

Does this come out of the supposedly "competitive" environment whereby
people can "buy" their power from other companies even though PG&E and SCE
still actually deliver it?  I never could figure out how that all really
worked.

Unfortunately, they're now doing the same thing in Britain.


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