Calif. Gov. to Meet Fed's Greenspan on Power Crisis

Crisis costing two largest utilities estimated at $8 billion in unrecoverable costs.

Published: 22-Dec-2000

LOS ANGELES (Reuters) - California Gov. Gray Davis will travel to Washington next week to meet U.S. Federal Reserve Chairman Alan Greenspan and discuss the state's power crisis, a spokesman says.

Davis, who has warned of the toll that skyrocketing electricity prices are taking on the California's utilities, businesses and consumers, is scheduled to meet Tuesday morning with Greenspan at the Fed, his office said.

Earlier in the day, Davis, a Democrat, also spoke by telephone to President-elect George W. Bush to brief him on developments and the two "pledged to work together to resolve the problem," said Gray spokesman Steve Maviglio.

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