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Technology Stocks : Y2K (Year 2000) Stocks: An Investment Discussion

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To: bob who wrote (13761)3/2/1999 3:36:00 PM
From: bob  Read Replies (1) of 13949
 
Y2K Readiness is Top Priority for NC Electric Co-Ops



RALEIGH, N.C., March 2 /PRNewswire/ -- North Carolina's electric
cooperatives have been working diligently to achieve Y2K readiness, and are
right on schedule, according to a U.S. Department of Energy report prepared by
the North American Electric Reliability Council (NERC).
The 27 electric distribution cooperatives in this state serve more than
700,000 homes, farms and businesses in 93 counties. "The cooperatives have an
on-going commitment to provide reliable electric service to their customers,
and that's why they've made the Y2K issue a top priority," said Annette
Stamatkin, vice president of information systems for North Carolina Electric
Membership Corporation (NCEMC). NCEMC is the wholesale power supply
cooperative owned by the distribution co-ops.
The NERC report, the second in a series of quarterly assessments, showed
that problems associated with Year 2000 date manipulations "do not appear to
affect the ability to keep generators and power delivery facilities in service
and electricity supplied to customers." Overall participation in the
industry-coordinated readiness assessment exceeded 98 percent of the electric
systems in the U.S. and Canada, including electric cooperatives.
According to Stamatkin, the N.C. electric cooperatives are taking "any and
all prudent steps" to keep the electrons flowing to customers on January 1,
2000. NCEMC serves as a technical and educational resource for the co-ops,
but each of the independent, member-owned distribution cooperatives has its
own Y2K readiness plan. The cooperatives are right on schedule in their
inventory, testing and contingency planning efforts. They are coordinating
closely with their power suppliers, regulators, grid operators, vendors,
manufacturers and outside experts to identify real and potential problems,
engage in testing and fixing, and refining contingency plans.
"Although no one can make 100 percent guarantees about what will happen
when the year 2000 rolls around, the cooperatives are doing everything they
can to minimize disruption of power," said Stamatkin.
Electric cooperatives in North Carolina are accustomed to dealing with the
catastrophic and unexpected outages caused by hurricanes, ice storms,
blizzards and other weather phenomena. "While Y2K is certainly different from
a storm, it is comparable because it illustrates how we respond to the
unexpected," Stamatkin said. "Excellence in emergency preparedness is a vital
part of our normal business plan, and Y2K readiness is no exception."

SOURCE North Carolina electric co-ops
Company News On Call:
prnewswire.com or fax, 800-758-5804
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