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Fortnightly Magazine - January 15 2003

Commission Watch

State regulators redouble their deregulation efforts-or abandon them altogether.
Phillip S. Cross

Retail Energy in 2002: A Regulatory About-face

 

 

State regulators redouble their deregulation efforts-or abandon them altogether.

The past year was a phenomenal one for state public utility regulators.

A historical confluence of events, including the catastrophic failure of the move to deregulate California electric markets and a nationwide epidemic of corporate financial scandals, led in large part by energy trading firms, helps to explain the developments.

Perspective

An analyst looks at prospects for emerging power technologies in light of the recent turmoil over deregulation.
Hugh Holman

Goodbye to All That?

 

 

Benchmarks

California must address its transmission problems, particularly Path 15.
Ben Richardson and Steve Piper

Crisis Aftermath: Piecing Western Markets Together

 

Business & Money

Energy experts debate the pros and cons of the Bush administration's proposal to eliminate the double taxation of dividends.
Richard Stavros

Double Taxation Repeal: Fire or Ice?

 

 

Technology Corridor

Utilities and vendors take a hard look at online procurement.
Jennifer Alvey

Mining Gold From The Supply Chain

 

 

Utilities and vendors take a hard look at online procurement.

Feel like saving your company $50 million? That's the question Joseph Zelechoski, director of supply chain at PPL, has for those who haven't tried online supply chain management.

Off Peak

Fortnightly looks back at 2002's Golden Executive Parachutes. We wish them good luck on the golf course.
Fortnightly

Giving Up the Corner Office

looks back at 2002's Golden Executive Parachutes. We wish them good luck on the golf course.

Doing It Without Chuck (who made do with a $33 million severance package)

"The real leaders are those that figure out how to get things done beyond what they could get done themselves."

Green With Envy: Rationalization and a $7.6 million severance package

Energy Trading: Down But Not Out

The speculative electricity trading industry has a bad case of rigor mortis, but current efforts might breathe new life into the practice.

Michael T. Burr

Trading is dead. At least that’s what some analysts are saying about the electricity markets. “Trading died with Enron on Dec. 2, 2001,” says Mark Williams, an energy risk management expert at Boston University. Whether trading is really dead or not, some signs of a rebirth are beginning to emerge.

Risk Experts Speak Out: Where the CCRO Fell Short

A surprisingly timid effort for an industry on the brink.

David Anthony

The purpose for the Committee of Chief Risk Officers (CCRO) recommendations, as stated in the introduction to their 198-page opus, is "to provide guidance on new methods and tools to establish a strong foundation for future growth in this (merchant energy) industry." But the reality is that the recommendations, almost without exception, fail to provide strong leadership in the areas of past and potential future abuse.

The CCRO Proposal: Missing the Industry Trend

Is a proposed solution to energy-trading woes too little too late?
Mark T. Williams

Is a proposed solution to energy-trading woes too little too late?

The Committee of Chief Risk Officers (CCRO) representing various utilities and merchant energy companies, recently released a set of detailed guidelines to improve the image and overall practices of energy trading, but the effort misses the mark.

Avoiding Overpriced Risk Management: Exploring the Cyber Auction Alternative

Should an LDC procure electricity hedge products by using an Internet-based auction?
C.K. Woo, Michael Borden, Ron Warrington, and Winston Cheng

Should an LDC procure electricity hedge products by using an Internet-based auction?

We propose that local distribution companies (LDCs) should use an Internet-based auction to procure inactively traded products, because the auction is a superior alternative to common procurement methods, such as bilateral negotiation and request for offers (RFO). Supporting our proposal is the empirical evidence from two auctions recently held by a municipal utility in Florida.

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