s Cherry Picking
"If we ignore history, we're doomed to repeat it. And what happened in the natural gas industry is precisely what will happen. The FERC authorized deregulation of the...
I think it was a serious proposal. I was asked to testify on it in the early days before he put it out. . . . We're taking it seriously."
Q. Your commission recently became among the first in the United States to approve an ISO. Does the PUC have a role to play in regulating the ISO, or should the FERC take exclusive jurisdiction?
A. "Oh no!" he says, answering the last part of the question first. "Put an exclamation point there. Heavens no. Hell no with the appropriate valentine to Betsy Moler. . . . We're lucky in that our jurisdictional lines go up to our state borders but not beyond.
"The reason we were first, I think, is that we were wanting it, but we were lucky that we were jurisdictionally under one house. . . . It's local here. We'll be directly involved in that and I think that's proper. Texas is big enough to be a regional ISO, and I think, looking at the Pennsylvania-Maryland-New Jersey deal, regional governance of electricity probably is the way it's going to go. We've got parts of Texas that will be in multistate regions. Not every utility in Texas is in ERCOT. So we're certainly going to be interested in making sure we can play a role in those ISOs that develop in the SPP and the WSCC as well." [End of comments by Wood]
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