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Fortnightly Magazine - May 15 2003

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.

Business & Money

Cash flow reporting is more susceptible to manipulation than investors imagined.
Raymond Hill, George J. Benston, and Al Hartgraves

Cash flow reporting is more susceptible to manipulation than investors imagined.

Financial results are the prism through which investors view performance in the world of business. Companies may have tens of thousands of employees supplying tangible goods and services to customers, but real and diverse activities are reduced to relatively few numbers when companies are valued.

Technology Corridor

How software controls can bridge the gap between wholesale market prices and consumer behavior.
J.D. Kueck, R.M. Staunton, and B.J. Kirby

How software controls can bridge the gap between wholesale market prices and consumer behavior.

As ideas go, a microgrid is nothing new. Think of steam pipes for district heating in older urban cores. But add a few software controls, and the possibilities grow.

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

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