colossal dangerous failure cera alert title colossal dangerous failure url http www 20 cera com eprofile u 35 2185 overview western energy california governor stays course california governor gray davis provided strongest public statements date regarding state power crisis annual state state address january 8 2001 echoing many previous positions perceives flawed unfair california market structure governor labeled state electricity market system colossal dangerous failure among actions launched new initiatives valued 1 billion encourage conservation provide financing land new generators grant authority utilities engage portfolio transactions manage electricity costs increase regulatory scrutiny existing market suppliers governor also called greater role state overseeing constructing new power plants governor acknowledged actions proposed steps necessary put california road recovery details regarding sources funding initiative still forthcoming although stated california investor owned utilities must allowed go bankrupt formal plan ensuring solvency given financial community continues lack assurance requires continue provide financial backing pacific gas electric southern california edison time state legislature remains body likely guarantee solvency governor criticized federal energy regulatory commission believes failure manage restrain properly wholesale market merchant plant generators accused gouging state suggested generators acted illegally operations jeopardizing reliability power grid new severe sanctions promised caught withholding power extracting investigators find unreasonable profits los angeles times poll released morning governor address indicated majority californians still believe energy crisis although 33 percent growth state economy past ten years nearly outstripped state surrounding region supplies power bulk governor statements continue focus culpability power producers rather serious supply shortfall though governor introduced steps fund facilitate construction new generating plants increased regulatory scrutiny threat sanctions exacerbate concern already expressed plant developers financial community investment climate california excessively risky end follow url complete report come shoot rapids us ceraweek 2001 shooting rapids strategies risks energy future houston february 12 16 2001 information register please visit http www 20 cera com ceraweek e mail category alert cera knowledge area western energy make changes cera com account go forgot username password go http www 20 cera com client forgot electronic message attachments contain information cambridge energy research associates inc cera confidential may privileged unauthorized disclosure copying distribution use contents message attachments whole part strictly prohibited terms use http www 20 cera com tos questions comments webmaster cera com copyright 2000 cambridge energy research associates