Turns out they are reviving it.
My concern is that educational television has many more competitors than it did when I was a child. Can you really recapture the electricity of the original?
"Hey You Guuuuuuyyyys! PBS is powering The Electric Company back up starting in January.
The 1970s-era educational show — whose regulars included Morgan Freeman, Rita Moreno and Bill Cosby — starts production on new episodes this week and is geared, as always, to the six-to-nine year-old set.
The series was originally developed for kids who graduated from Sesame Street. As was the case in the original series, music videos, sketch comedy, animation and short films will be used specifically to close the literacy gap between low and middle-income families and teach kids that reading can be fun." (As reported by tvguide.com)