California plans transmission buyout; generators still under order
As expected, California Gov. Gray Davis reported Friday the state is negotiating with the near bankrupt electric utilities to buy their transmission lines. The plan is intended to give the utilities a cash infusion so they can pay debtors and buy power to serve customers. Also, a Sacramento federal judge extended a temporary restraining order for another 5 days forcing generators to continue providing power, even though they aren't getting paid for it. A hearing is scheduled Wednesday.