Williams issues report to ease concerns

(Tulsa-AP) -- The Tulsa-based energy company Williams has issued a report in an effort to ease worries about whether the company will be paid for electricity sold to California.

The company says the sales to California will boost its fourth-quarter earnings well above the 17 cents per share that's estimated by analysts. The company did not release specific numbers.

Energy analysts say the high cost of electricity has created severe financial problems for California utilities. The analysts say that's led investors to worry that Williams and other companies who sell power to California may not be paid on time, if they're paid at all.

Williams officials downplayed those concerns, saying the expect no such issues in the fourth quarter.