WASHINGTON, D.C. -- Yesterday the President's Council on Year 2000 Conversion received its second report on the nation's electric power industry's preparations for Y2K conversion. John Koskinen, Assistant to the President and Chair, President's Council on Year 2000 Conversion, issued the following statement:
STATEMENT OF JOHN A. KOSKINEN
Assistant to the President and
Chair, President's Council on Year 2000 Conversion
January 11, 1999
I applaud NERC (North America Electric Reliability Council) for its leadership in developing this second assessment of the electric power industry's Y2K readiness. NERC and its partner organizations are performing a valuable public service by providing all of us important information about the status of the electric power industry's work in dealing with the Y2K problem as well as the challenges the industry still must face to be ready for the Year 2000.
There is no evidence at this time that the Y2K problem will create national failures in electric power service. Indeed, the industry is making significant progress in preparing critical systems for the Year 2000, and is taking an aggressive approach to contingency planning. But much work remains. It is vital that each of the more than 3,000 power companies in the United States be prepared to meet their obligations to customers throughout the Year 2000.
Periodic assessments of industry and government Y2K progress such as that provided today by NERC are crucial to the country's efforts to prepare for the century date change. Assessments help to promote action on the problem by providing industry members with benchmarks for progress. In the case of the electric power industry, such assessments also help those who rely on electric power to engage in more realistic contingency planning efforts, which will become increasingly important as we approach January 1, 2000.
The Council looks forward to receiving additional information from NERC on the readiness of the electric power industry.