Energy Crisis Officially Over
Three years and billions of dollars after the stateâ€™s energy crisis led to blackouts and bankruptcies, Governor Davis has declared an end to the energy crisis. The governor issued a proclamation Thursday ending the state of emergency he declared on January 17th, 2001.
The state of emergency let the state step in to buy energy for customers of three utilities that were nearly bankrupt and unable to purchase electricity on their own.
Legislation eventually allowed the state to enter 56 long-term energy contracts, many of which have been renegotiated at lower rates.