'Subject: Re: Congressional Testimony: Utilities Won't Make It
Date:
Sun, 19 Jul 1998 23:50:10 -0400
From:
rcowles@waterw.com (Rick Cowles)
Organization:
What's that?
Newsgroups:
comp.software.year-2000
References:
1 , 2 , 3
On Sun, 19 Jul 1998 21:27:29 -0500, Steve Dover <swd@strata-group.Xcom>
wrote:
>Turkey (Vulture) Paul wrote:
>>
>> In NYC Consolidated Edison has been given the ok by the PSC to sell all
>> its power plants. Upstate Niagera Morhawk is beginning the selloff of
>> plants. Nine Mile Point 2 is for sale in a deal between NYS Electric
>> and Gas and NIMO. These are auctions with sealed bids. The final bids
>> are due mid Dec 98.
>>
>> Deregulation or dumping in the sale of the century. NIMO just borowwed
>> 3.7 Billion in junk bonds to buy out independent power producers and now
>> the plants are up for sale...again.
>>
>Hmmm, Y2KSEDTY2K (Y2k sale every day til Y2k)
>Do you think they are dumping Y2k Broken power plants?
No, I think they're dumping a significant O&M expense and getting the hell
out of the power generation end of the business in the name of being 'cost
competitive'.
The fact that the plants may or may not be Y2k ready is of no consequence
to the bean counters at the companies that are selling the plants.
I wrote a Westergaard column on this topic:
y2ktimebomb.com
BTW - on Friday, PECO Energy announced that they are buying, in
conjunction with a UK partner, the remaining operational nuclear unit at
Three Mile Island from General Public Utilities for USD $100,000,000. This
is roughly equivalent to the Dutch purchasing the island of Manhattan from
the Man-a-hat-a tribe for a string of beads and a warm pizza (New York
style, of course). I was at TMI a few months back, doing some Y2k
evangelical work. Good luck, PECO Energy.
I hope the NRC and Pennsylvania PUC both scrutinize this sale very closely
from a Y2k perspective. For that matter, I hope Corbin McNeil (PECO Energy
Chairman) is saavy enough to scrutinize the plant Y2k progress prior to
closing the deal.
--
Rick Cowles (Public PGP key on request)
www.euy2k.com: Electric Utilities and Y2k
Now Shipping From AMAZON.COM! "Electric Utilities and Y2k" - The Book
www.euy2k.com/book.htm |
