California electric power on the ragged edge

As you may remember in may the NERC, the National Electrical Reliablility Council issued a press release announcing that generation and transmission resources are expected to be adequate in most areas this summer. Today's New York Times has a story about the close call in California yesterday. Available electrical capacity dropped near 3% reserve in the afternoon, leading to concern CAISO would need to declare a "stage three emergency" and begin controlled rolling blackouts across california. http://www.nytimes.com/library/national/080300ca-power.html In June, PG&E used rolling blackouts around the San Francisco Bay area.