Online Stock Market Trading U.S. and Canadian officials on Wednesday will lay the groundwork for an investigation into what caused the worst blackout in U.S. history.
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Stock Investing Course Energy Secretary Spencer Abraham and Herb Dhaliwal, Canada's minister of natural resources, will co-chair the task force to investigate Thursday's power outage and to identify ways to prevent a recurrence. Abraham and Dhaliwal were scheduled to discuss the investigation for about an hour in Detroit on Wednesday.
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Stock Market Game ``We're going to move as fast as we can but we're not going to jump the gun,'' Abraham said Wednesday on CBS' ``The Early Show.''
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Stock Investing Game At a news conference in Washington Tuesday, Abraham said he felt that there needed to be ``one ultimate finding'' by a single investigation and that an industry watchdog group -- the North American Electric Reliability Council -- would forgo its independent probe and work with a U.S.-Canadian task force.
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Journal Prime Rate Street Wall Experts studying the outage point to a series of small failures that may have combined to unleash a huge wave of destructive electricity.
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Stock Market News Four otherwise innocuous events occurred Thursday afternoon on the northeast Ohio power grid owned by FirstEnergy Corp. They include unexplained voltage swings that the company said brought down a coal-fired generator, a pair of power line outages -- one caused by a tree -- and the failure of an automated warning system.
Stock Investing Basics ``In order to have a big problem, you have to have three or four bad things happen all at the same time,'' said Hoff Stauffer, a power transmission consultant with Cambridge Energy Research Associates.
Stock Investing Software A team of U.S. and Canadian investigators will examine the computer logs detailing these failures when they take over several separate probes already under way across the region. Officials close to the investigation have said an interim report on last week's blackout could be released by mid-September. But a final report may be months away.
Stock Market Trading Abraham was also to stop in Ohio to brief state and utility officials Wednesday morning.
Stock Investing For Dummy Grid operators in New York, Michigan, Ohio and New Jersey -- which lost power -- and New England, which mostly did not, have gathered data to hand over to the bi-national investigation.
Stock Market Crash Abraham said Department of Energy investigators are already seeking the cause of the outage. And technicians from the Federal Energy Regulatory Commission will be joining the U.S.-Canadian task force, FERC commissioner William Massey said Tuesday.
Stock Investing Tip Massey echoed statements made by Bush and members of Congress since the blackout, saying Congress ought to approve mandatory reliability standards and sanctions.
Stock Market Chart ``This blackout should not have occurred. We need mandatory rules for the grid and we need tough penalties for violators,'' said Massey, one of three FERC commissioners.
Online Stock Investing Abraham said Wednesday that the responsibility for paying for improvements would fall on the energy companies.
Stock Market Crash Of ``At the end of the day, the companies and the users are going to have to obviously pay,'' he told CBS.
Stock Investing For Beginner In Washington, House Energy and Commerce Chairman Billy Tauzin, R-La., said Tuesday that his panel would hold a two-day hearing on the blackout on Sept. 4-5.
Finance Journal Personal Experts say investigators may not find a single event that triggered the cascade of shutdowns. None of the individual glitches would be enough to kill a city's lights on a normal day, and the grid is designed to work around one or two failures, but not more, Stauffer said.
Stock Market Report Akron-based FirstEnergy was beset by at least three collapses Thursday.
Finance Investing Stock Market The company said unexplained voltage swings knocked out a generator in its Eastlake plant. Later, a high-voltage power line tripped off. Soon after, another power line, heated by the extra voltage it absorbed from previous failures, drooped into a tree and shorted.
Wall Street Journal Com The big questions that need answering, Stauffer said, are the reasons behind intra-grid failures that allowed the blackout to spread like a computer virus from FirstEnergy's lines around Cleveland into the neighboring utility network in Michigan.
Stock Market Investing Advice After darkening Detroit, the plague spread into Ontario, darkening Toronto, and then south into New York state, where it surged the length of the Empire State, finally toppling the mighty grid that feeds New York City.
Street Trader Wall Amid such debacles, many things worked as they should have, Stauffer said. Power networks that lock into FirstEnergy -- including those operated by PJM Interconnection and American Electric Power -- did seal themselves off from the storm, saving Boston, Philadelphia, Pittsburgh, Columbus, Ohio, and other cities from the same fate.
Indian Stock Market ``Why didn't Michigan separate itself from FirstEnergy, like PJM and AEP?'' Stauffer asked. ``If they'd have done that Detroit would have been all right. Ontario would've been all right. And New York would've been all right.''
Stock Investing Advice New high-tech switches and software monitors might have isolated the problem grid sections, said Paul Gilbert, a power consultant and member of the National Academy of Engineering, who chaired report for Congress on energy systems in 2002.
Free Journal Street Wall But, Gilbert said, transmission lines are chronically overtaxed, running at 90 to 95 percent capacity. When one line fails, switches are supposed to reroute its power to other lines.
Stock Market Information ``When they get an added load they've got no place to put it,'' he said. ``You've got to have more lines.''
Penny Stock Investing Associated Press - 8/20/2003
Topic: Energy
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