Special Series Part 5: How to find "commercially reasonable" valuation in power contract terminations.
Justin Harlow and Brett Friedman
Contract termination should be easy. Consult the applicable master agreement, calculate the close-out amount, and send or receive a check. If only it were so. In this discussion, we investigate the guidance offered in the key electricity master agreements regarding the calculation of settlement amounts following an event of default and subsequent termination. We also illustrate what we perceive to be a "commercially reasonable" or "good faith" approach to determining settlement amounts.
The Next M&A Wave: If mergers are once again a potential strategy for accomplishing growth objectives, the previous round of transactions offer several lessons.
Tom Flaherty and Bill Kemp
The industry stands at an inflection point regarding consolidation. But this time, it is less likely to retreat from more and larger combinations. What’s driving renewed interest in mergers and acquisitions?
The Environmental Protection Agency reviews how the multi-pollutant control concept is to work.
Misha Adamantiades, Linda Chappell, and Sam Napolitano
Currently, 132 areas do not meet the new National Ambient Air Quality Standards for fine particles or ozone, affecting some 160 million people, or 57 percent of the U.S. population. What efforts are under way by the EPA to bring these areas into compliance?
A monthly billing cycle results in exposures of up to 60 days’ settlement. Participant default is likely, and the potential loss from such an event is significant. Spot-market clearing can solve these problems.
FERC Chairman Pat Wood III said he would leave the commission at the conclusion of his term of office June 30. Wood is the longest-serving appointee of George W. Bush, who as governor of Texas in 1995 appointed him to the Texas PUC. And others...
Transmission congestion affects both the cost and the efficiency of the power grid. Global Energy's Market Analytics LMP along with PowerWorld Corp.'s OPF Simulator and Energy Visual's graphical interface solution provides a richly textured visual representation of Global Energy's forecast of transmission congestion in California for Aug. 16, 2006.
Exelon Chairman, President, and CEO John W. Rowe, on the proposed merger that would create the largest utility in the United States.
Exelon CEO John W. Rowe would head the largest utility in the industry, if a proposed merger with PSEG goes through. By creating a $40 billion market-capitalization utility, the newly formed company would be 60 percent larger than its nearest market-cap peer, and would have total assets of approximately $79 billion, with almost $25 billion in annual revenues and $3.2 billion in annual net income.
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