KYRA PHILLIPS, CNN ANCHOR: California's governor is releasing additional state funds to buy electricity after a $400 million emergency fund was exhausted in less than 12 days. As the state considers solutions to the ongoing power crisis, auditors are scrutinizing the operations of several utility companies. Joining us now from Sacramento, CNN financial news reporter Casey Wian. Casey, what are the companies?</s>CASEY WIAN, CNN CORRESPONDENT: Kyra, today, state lawmakers will be working on a plan and hoping to pass it tonight, giving the state the legal authority to enter into long-term contracts to buy electricity. Last week, the state held an auction among big power producers, and received more than three dozen offers for electricity at lower rates than it has been paying. But Republicans here, who are in the minority, are withholding support. They're complaining that California Governor Gray Davis, a Democrat, is not sharing...</s>PHILLIPS: Say that again?</s>WIAN: ... about the real financial costs to the state. And as you mentioned, already California...</s>PHILLIPS: Casey, Casey, I'm going to have to ask to you stand by.
California Governor Releases Additional Funds to Buy Electricity