(October 2005) Xcel Energy named Jacob P. Mercer assistant treasurer for the utility and its operating subsidiaries. Portland General Electric appointed Bill Valach director of investor relations. Federal Energy Regulatory Commission Chairman Joseph T. Kelliher appointed John S. Moot as the commission's general counsel. PJM Interconnection has realigned responsibilities among five executives. And others...

(September 2005) Top honors in our first annual financial ranking go to those staying with the basics and to those dealing with soaring commodity prices.

In the electric power industry, the urge to merge has gained a new lease on life. These combinations are witness to the powerful forces of consolidation let loose when deregulation makes consolidation a preferred tactic in an uncertain world. But to what extent will government policy encourage or resist this trend? What exactly is the regulatory environment that nurtures combinations or, for that matter, supports fragmentation? As we shall see, there are many cross-currents.

Business & Money

The Securities and Exchange Commission denies approval of the AEP/CSW merger. What will that mean for industry consolidation?

What's wrong the Public Utility Holding Company Act of 1935 (PUHCA)? Perhaps the date! On May 3, 2005, a Securities and Exchange (SEC) administrative law judge (ALJ) handed down a ruling that denied the application of American Electric Power Co. (AEP) seeking approval of its acquisition of Central and South West Corp.

Power Measurement

Clean Air by 2015:

Which utilities and states will be most affected by the new rules?

The May issue of included a lengthy discussion by EPA officials of the Clean Air Interstate Rule (CAIR), explaining the details behind the landmark regulations in terms of benefits and costs (). But which states, companies, and generating units will be most affected by the new rules?

People

New Opportunities:

Aquila Inc. announced that Norma F. Dunn has been named senior vice president, corporate communications. Prior to joining Aquila, Dunn worked 17 years in a variety of roles of increasing responsibility for El Paso Corp.

Frontlines

What's behind today's oddball mergers?

Look at the gargantuan, gerrymandered service territories you would get with the latest pending merger deals: Exelon-PSEG, Duke-Cinergy, and Warren Buffet's bid to combine PacifiCorp with his MidAmerican Energy. Now ask yourself if they make any sense.

Recent attrition raises the question: Consolidation or death spiral?

When GridAmerica LLC closes its doors at the end of this year, the number of independent transmission companies (transcos) in the United States will fall by one-fourth. Only three ITCs will remain: American Transmission Co. (ATC), International Transmission Co. (ITC), and Trans-Elect Inc.

Frontlines

A guide to the galaxy of low growth, high interest rates, and the dark side of the Force.

Many executives are hoping to avoid a repeat of the 1970s, when first hit the big screen, and when inflation, nuclear cost overruns, and diminishing returns came calling in an economic climate that today's markets threaten to emulate.

Environmental Emissions:

The cost to power markets of the Clean Air Interstate Rule depends on the ability to trade mercury.

Billions of dollars of ratepayer money will be spent in the next decade on pollution-control equipment to meet new rules that amount to an Environmental Protection Agency (EPA) bet that mercury can be traded like soybeans, oil, and more pertinent, SO2 and NOx.