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Public Utilities Reports

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Fortnightly Magazine - April 1 2002

The Economists: On the Future of Energy Markets

The Power of Price Responsiveness
Mark Hand

Uncertainty clouds direction of FERC's market engineering.

Crawling from the Wreckage

It Can Be Worked Out
Arthur O'Donnell

Revisiting California

Market power after two years.
Robert McCullough

 

The Doomsday Scenario

Debt + secret triggers = another Enron.

Much the same way that bankers used to worry about a "run on the bank," where there is an overwhelming demand for liquidity that causes a solvent bank to fail, so should energy companies be worried that their use of material adverse change (MAC) clauses might trigger an overwhelming demand for liquidity that causes a once solvent energy company to fail. Of course, the banks now have the Fed to protect the financial system from a liquidity crisis. No such luck for the energy industry.

News Analysis

Experts debate whether Bush's Clear Skies plan on power plant emissions clears the way for better emissions technologies.
Jennifer Alvey is associate editor at Public Utilities Fortnightly.

News Analysis

 

Off Peak

EPA director steps down, and tells you why.

Off Peak

 

April 1 , 2002

 

I Quit!

 

EPA director steps down, and tells you why.

March 3, 2002