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North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical Re: Second day of rolling blackouts starts
In message <[email protected]>, Roeland Me yer writes: > >The "gamble", as you put it, was changed significantly when deregulation >moved the goal-posts. It was dependent on the utilities retaining control of >generator costs. The de-regulators were supposed to cover that scenario. >They didn't. If an indivudual tried this, with another individual, they call >it extortion and the individual in queston would be rotting in jail. The >salient fact is that the generators are threatening to bankrupt PG&E unless >the state pays the extortion amount, by midnight. > >Does anyone have a clue what would happen if the state doesn't pay? Would >the state have to step in and start operating PG&E? IMHO, if this isn't >corrected, todays rolling blackouts will be trivial, compared to a total >PG&E collapse of services. If PG&E files for bankruptcy, control of the company passes to a federal judge. If you subscribe to the NY Times site, see http://www.nytimes.com/2001/01/18/national/18ENER.html Here's the first paragraph: LOS ANGELES, Jan. 17 - Politicians and power company executives have bickered for months about how best to solve California's energy problems, but ultimately it may come down to this: a bankruptcy court judge may be the only person with the authority to ask for the rate increases and cost cuts that a growing chorus of analysts say are necessary, but that nobody in the state has been able to agree upon. --Steve Bellovin, http://www.research.att.com/~smb
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