Richardson Reissues Calif. Emergency Power Order --Richardson says US electric grid needs improvement

--Richardson says utilities' credit picture looking a little better

By Robert Schroeder, BridgeNews

Washington--Jan. 11--The U.S. Energy Department has re-issued an emergency order requiring power suppliers to sell electricity into California as that state faces the possibility of rolling blackouts later Thursday, Energy Secretary Bill Richardson said.

Richardson said he took the step after Gov. Gray Davis undertook actions designed to conserve power in California.

"California's had a bad day...but we're there to help them," the energy secretary said in an interview on the Fox cable television network.

Richardson spoke as government officials and power company experts were holding a second day of meetings in Washington designed to hammer out short- and long-term solutions to California's electricity crisis, which has brought the state's two largest utility companies perilously close to bankruptcy.

But Richardson, who has a little over a week remaining as energy secretary, said creditors are "looking a little better" at the Pacific Gas & Electric and Southern California Edison corporations, which supply much of California with power.

Up to two million California residents and businesses were facing the prospect of blackouts as the state experienced severe weather and generation was cut by one-third.

It was not known immediately for how long Richardson is extending the order.

Richardson also said in the interview that the United States' electricity grid needs work and that a comprehensive bill dealing with that and other electric issues should pass Congress.

Top government and corporate officials were planning to meet in Washington again this weekend, possibly to ink a final deal avoiding bankruptcy for PG&E and SoCal Edison.

Copyright 2001 Bridge Information Systems Inc. All rights reserved.

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-- Martin Thompson (mthom1927@aol.com), January 11, 2001

Answers

Thank God Richardson has only a week left in office. There just ain't no hope as long as this numb nob has anything to say.

-- Wayward (wayward@webtv.net), January 11, 2001.