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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Hawkmoon who wrote (1405)	12/14/2000 10:33:20 AM
From: Hawkmoon	Read Replies (1) of 74559

California Utilities threatened with being cut off from outside supplies due to concerns over ability to pay for imported power: dailynews.yahoo.com California Secures Power But Trouble Still Looms By Leonard Anderson SAN FRANCISCO (Reuters) - California's electricity emergency worsened dramatically on Wednesday when power suppliers threatened to halt sales to California for fear they might not be paid by the state's biggest utilities, now strapped by billions of dollars of power costs. With the California grid operator threatening to order unprecedented rolling blackouts Wednesday afternoon because of tight supplies, U.S. Energy Secretary Bill Richardson took the rare action of ordering power diverted to California from federal hydroelectric dams in neighboring states. Officials at the California Independent System Operator (ISO), which manages most of the state's power grid, said they received about 5,000 megawatts of hydropower from out of state shortly after the ISO warned the grid was about to crash.... con't ****************** Well, the Fed Government stepped in and provided short term relief, but what does this suggest will happen to the value of utility stocks in CA if outside utilities are worried about their ability to pay? Major losses to be expected in selected utilities? Regards, Ron

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