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Fortnightly Magazine - May 15 2003

The CEO Power Forum: The Best of the Best

Five electric utility chiefs are showing true leadership for their companies and for an entire industry.
Interviews by Richard Stavros

Size Matters: Consider teh Alternatives

For small to midsize utilities, the costs and burdens of being a stand-alone investor-owned utility merit considering the alternatives.
Lyle D. Miller

For small to midsize utilities, the costs and burdens of being a stand-alone investor-owned utility merit considering the alternatives.

A pressing question for many utilities-particularly small to midsize utilities-is whether to remain a standalone publicly owned company at their current form and size. Do the benefits outweigh the costs?

Transmission Asset Sales: Running the Regulatory Gauntlet

There are many considerations and obstacles to overcome before transmission assets can be bought or sold.
Daniel L. Schiffer and Marc D. Machlin

Why Aren't Distressed Assets Selling

'First movers' will be positioned to extract the most value from the acquisition of generation infrastructure.
Bo Poats, Paul Meyers, Gary Vicinus, Richard Ashby, and Art Holland

Frontlines

The market speaks but we don't listen.
Bruce W. Radford

The market speaks but we don't listen.

Will someone please tell me: Where is the proof that the electric utility industry needs more investment in electric transmission? Is it not possible that we already have enough miles of high-voltage line?

I can scarcely turn around but see a new conference or workshop on how to encourage the electric industry to invest more in transmission infrastructure. The Federal Energy Regulatory Commission (FERC) leads that charge, though as a regulator it ought to stay neutral.

People

New Positions:
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New Positions:

President Bush named Dr. Nils J. Diaz chairman of the Nuclear Regulatory Commission (NRC), succeeding Richard A. Meserve. Diaz's current NRC term expires in 2006. Diaz also is professor-emeritus of Nuclear Engineering Sciences at the University of Florida.

Pantellos named Jim Neikirk president and CEO. Neikirk spent five years at Entergy Corp. as vice president and chief procurement officer.

Response From the Author

[See H. Rept. No. 100-795 (PL 100-647) p.400.]

Perspective

It is hard tyo foresee abandoning the discounted cash flow method relied upon so heavily for the past couple of decades.
Jeff D. Makholm

It is hard tyo foresee abandoning the discounted cash flow method relied upon so heavily for the past couple of decades.

In the Feb. 15, 2003, edition of , Jonathan Lesser says that regulators need to rethink the traditional discounted cash flow (DCF) method for finding the cost of capital, or "at the very least, regulators should no longer rely solely on the DCF to set allowed returns."

Benchmarks

Higher natural gas prices could be a boon for new development.
Betsy S. Vaninetti

Commission Watch

ISO's new ICAP scheme seen as subsidy for the gen sector.
Bruce W. Radford

ISO's new ICAP scheme seen as subsidy for the gen sector.

For evidence that electric restructuring has lost its way, look no further than ICAP-the dubious idea that to guarantee reliability and low prices, regulators should create a market not just for trading the finished commodity, but also for buying and selling ownership rights in the future ability to produce.

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