early news california situation breaking news california stakeholders agree key objectives posted 10 18 cst jan 10 2001 signs compromise cooperation emerged marathon seven hour meeting last night california government officials power industry executives clinton administration california continuing energy crisis set key principles hammered two dozen participants according statement issued following meeting stakeholders agreed need cooperation maintain stability avoid bankruptcy california utilities assure long term regularity market conditions utilities amassed 12 billion unrecovered wholesale power costs despite recent approval new rate surcharges utilities remain brink financial insolvency meeting participants agreed crucial elements solution california power woes including following development approaches promote long term purchases power possibly state generators attractive fixed rate willingness generators qualifying facilities marketers provide short term basis forebearance amounts owed pacific gas need find satisfactory approaches utilities obligations purchase power cooperation better match supply demand review existing qualifying facilities payment structures working groups meeting today washington c address additional technical details senior policy makers reconvene weekend complete agreement ferc chairman james hoecker said early declare victory important first step try find ways maintain stability avoid bankruptcy hoecker also announced today leaving federal energy regulatory commission jan 18 said atmosphere meeting highly cooperative appear headed direction would seem consistent ferc dec 15 order said