http://www.energycentral.com/centers/news/daily/article.cfm?aid=5652038

IEA Warns of Coming Power Failures 

May 07 - United Press International The Paris-based International Energy
Agency has said Europe and North America could face power blackouts this
summer. 

The agency said utility groups have failed to invest enough in electricity
generation and transmission capacity, the Financial Times reported Saturday.
Energy companies are also underinvesting in new oil and gas production
capacity by up to 20 percent, the IEA said. 

London, New York and several cities across southern Europe have experienced
large-scale power failures during the past three summers because growing
numbers of air-conditioners have driven demand to peak levels. 

Fatih Birol, IEA chief economist, said electricity generation capacity in
the European Union's 25 member states increased by only 1 percent last year
-- less than half the 2.3 percent increase in electricity demand. 

Birol said the trend in the European power sector was mirrored by trends in
North America and much of the developing world.

In accordance with Title 17 U.S.C. Section 107, this material is distributed
without profit to those who have expressed a prior interest in receiving the
included information for research and educational purposes.