Fair use for educational/research purposes only

Watch February 6th

That's the date when California starts the spiral into chaos, unless someone figures out a way to end the nonsense. On that date, the full impact of the decision already taken by Western Resources Inc., Duke Energy Corp, J. Aron & Co. and other firms to stop selling gas to PG & E will be felt. The new administration has promised not to extend the order expiring on that date which forced the current suppliers to continue selling to the nearly bankrupt utility. Gas in storage should also be nearly exhausted by the 6th. To counter the threatened loss of gas supply, the PUC is putting in place a scheme to factor PG & E's current customer receivables, which could buy a little more time if the gas suppliers and all other creditors cooperate. So far they haven't.

Just in case the entire chewing gum and bailing wire construction slips past the 6th, Senate Energy Chair Frank Murkowski had this happy thought,``California's problems are affecting everyone connected to the grid -- the entire West -- and I fear the worst is yet to come. It's anyone's guess what will happen this summer when the air conditioners are turned on.''

http://208.49.25.221/policypete/policypete.htm

-- Martin Thompson (mthom1927@aol.com), February 02, 2001

Answers

'PUC is putting in place a scheme to factor PG & E's current customer receivables..."

FYI this sell them to a 'finance company' for xx%, typically for 97.5¢ on the dollar. But considering how dire the straights are here it may be less.

-- fair use act quotation: for educational and reserach purposes (perry@ofuzzy1.com), February 02, 2001.

forgot the word "means".

FYI this means....

-- (perry@ofuzzy1.com), February 02, 2001.