New Opportunities:
Pueblo Chieftain
People
New Opportunities:
The Federal Energy Regulatory Commission appointed Joseph H. McClelland director of its Division of Reliability in the Office of Markets, Tariffs, and Rates. McClelland is general manager of the Custer Public Power District in Nebraska.
Colorado Gov. Bill Owens appointed Carl Miller, a state representative, to the Colorado Public Utilities Commission (PUC). The reports that Miller cannot seek re-election because of term limits.
An analysis of the strategic implications of the re-basing of power and utility industry valuations.
Ian Connor
Business & Money
An analysis of the strategic implications of the re-basing of power and utility industry valuations.
Over the past several months, traditional valuation levels have re-emerged in the power and utility industry, with recent premium valuation metrics compressing significantly.
Investors are asking utilities questions about environmental and social risks. Answers can be a challenge.
Michael T. Burr
Business & Money
Investors are asking utilities questions about environmental and social risks. Answers can be a challenge.
When the tech-stock bubble burst in 2001, investors were outraged to learn that many stock analysts were being paid to over-hype stocks. The following year, Enron's ugly public death revealed the presence of a virulent infection in governance of many large and respected companies.
How will the industry change in the future?
Keith Mueller
How will the industry change in the future?
The utility industry of the future can be best characterized by three words: scale, synergies, and automation. Company leaders and the broader workforce will be touched by these three forces for change. We can already see glimpses of the future around us today. In response to the sweep of deregulation, many power companies no longer generate power. They have divested themselves of their generating plants, ceding that ground to independent producers to concentrate on distribution.
BYLINE
Michael T. Burr
BYLINE
As a former independent power producer, George Lagassa is sympathetic to the woes of the merchant power industry. Until just a few years ago, he held the license to a micro-hydro qualifying facility (QF) in New Hampshire, so he understands what it takes to compete in a regulated-franchise industry. Yet, as the principal of Mainstream Appraisals in North Hampton, N.H., Lagassa is also a dedicated pragmatist. He sees the industry's consolidation trend as a sort of correction in the U.S. power market.
FERC's AEP ruling begs the question: Can the feds bypass states that block transmission reform?
Lori A. Burkhart and Bruce W. Radford
Commission Watch
FERC's AEP ruling begs the question: Can the feds bypass states that block transmission reform?
In its search for the perfect power market, the Federal Energy Regulatory Commission (FERC) at last has joined the battle that lately has brought state and federal regulators nearly to blows. A recent ruling puts the question squarely on the table:
New Positions:
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People
New Positions:
William O. Ball moved to the role of senior vice president of transmission planning and operations for Southern Co. He had been Southern's vice president of transmission planning, policy, and support services since March of 2002.
The Southwest Power Pool (SPP) board of directors chose Nicholas A. Brown as the organization's president and CEO. Brown has been with SPP for 18 years, most recently as senior vice president and corporate secretary.
From reporting to trading, utilities try to meet new expectations.
Douglas W. Smith and Kyle W. Danish
From reporting to trading, utilities try to meet new expectations.
On the issue of global climate change, most utilities have devoted their attention to tracking developments in Washington, D.C., following the rising and falling fortunes of legislation that could result in federal greenhouse gas (GHG) reporting or regulatory requirements. For the most part, utilities have taken comfort in the resolutely anti-regulatory stance of the Bush administration on greenhouse gas emissions.
Financial players bring credit depth to energy markets, but will they play by the rules?
Michael T. Burr
Financial players bring credit depth to energy markets, but will they play by the rules?
The center of gravity for energy marketing and trading activity is moving from Houston to Wall Street. Some major financial institutions already have plunged into the market, while others are testing the waters, gearing up to participate in a bigger way. Already their impact is being felt, and it is most definitely welcome.
Obtaining a position measurement in energy markets has become more complex and has increased financial risks for integrated utilities.
Peter Armstrong
Business & Money
Obtaining a position measurement in energy markets has become more complex and has increased financial risks for integrated utilities.
"What's your position?" The answer to that simple question in today's energy markets is anything but simple. In fact, answering this question may be the single most difficult challenge faced by a fully integrated energy firm in its efforts to manage risk.
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