Based upon information to date, the Company and DETROIT EDISON anticipate that abnormal operating conditions may be experienced within the DETROIT EDISON production, transmission, and distribution systems as a result of Year 2000 conditions.
These conditions could result in temporary interruption of service to customers.
Abnormal operating conditions may also be experienced in other affiliates of the Company of a magnitude not determined at this time.
To address these issues, a business continuity program is being developed to be operational in the fourth quarter of 1999. The business continuity program is expected to provide short and long-term solutions to Year 2000 related issues ...
However, despite all efforts, there can be no assurances that Year 2000 issues can be totally eliminated. In addition, no assurances can be given that the systems of vendors, interconnected utilities, and customers will not result in Year 2000 problems.
The Company and Detroit Edison estimate that Year 2000 costs will aggregate between $50 and $75 million, with $13 million expended between January 1, 1998 and September 30, 1998 ....
DETROIT EDISON SEC Y2K DISCLOSURE
sec.gov
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Brrrrrrrrrrrrr - Might get cold in Detroit next January. Especially since they'd previously only spent about 1/4 of their Y2K budget for these fixes. Maybe they've spent a third by now.
Cheryl |
