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Nov 24, 2014 | Washington, DC
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Jan 14, 2015 to Jan 16, 2015 | San Diego, CA

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Cost

N.Y. Isues Electric Restructuring Plan

Phillip S. Cross

The New York Public Service Commission (PSC) has issued a framework of goals and strategies for restructuring the electric industry in the state. The PSC directs all electric utilities in the state that have not yet initiated restructuring to file plans that will open the retail generation and energy-service markets to competition for all customer classes.

Market Structure (em PoolCo Model. The PSC adopted a "flexible retail PoolCo" model to ensure an orderly transition to retail competition.

Texas PUC Develops ECOM Model

Lori A. Burkhart

To prepare a report on stranded investment mandated by the Texas legislature, the Texas Public Utilities Commission (PUC) has asked electric utilities to file the required financial information using a new model.

The model consists of six scenarios that use a number of variables approved by the PUC to yield a broad estimate of excess cost over market (ECOM) (em a measure of potential stranded costs. Each utility will file 54 "snapshots" of its potential excess-cost factors based on various competitive market scenarios and market-price assumptions.

Flexible Pricing and PBR: Making Rate Discounts Fair for Core Customers

Tim Woolf, and Julie Michals

With competition looming, electric utilities increasingly resort to price discounts, both to retain customers and to alleviate some of the pressure to introduce retail competition. Performance-based ratemaking (PBR), which allows utilities greater flexibility in offering price discounts, is emerging as an integral component of many restructuring proposals.

However, flexible pricing can create inequity among ratepayers.

Pipelines: Beware of Riptides

Gas restructuring didn't end with Order 636, it just outran the regulators. Now the rules come from the downstream dealmakers.

David A. Foti, and Brian J. Cohen

Gas restructuring didn't end with Order 636, it just outran the regulators. Now the rules come from the downstream dealmakers.

Numbers That Make Sense: Gauging Nuclear Cost Performance

Michael R. Fox, and J.P.M. Maidment

Dwindling economic competitiveness has plagued the nuclear power industry for

some years. In the industry's early years, some reactors were completed for less than $100 million. Experience gained overseas (often in projects with American partners) provides sobering evidence that nuclear reactors can still be built at low cost in short periods of time.

Court Favors Rate Impact Test for DSM

Phillip S. Cross

The Florida Supreme Court has upheld a decision by the state commission (PSC) to test the cost-effectiveness of demand-side management (DSM) programs for the state's four largest investor-owned electric utilities by measuring the impact of the programs on rates for all consumers, whether or not they participate in DSM programs.

It held the Rate Impact Measure (RIM) test consistent with state law directives to avoid discrimination between rate classes for DSM initiatives (em more so than the Total Resource Cost (TRC) test used alone.

1996 Electric Stakeholders Forum

Joseph F. Schuler, Jr.

ElectricStakeholdersForum

Consumers

Labor Unions

ManagementDeregulation isn't just for utilities anymore.

This year, PUBLIC UTILITIES FORTNIGHTLY'S

annual Electric Executive's Forum recognizes

the growing constituency of the electric

utility industry.

Corporate Unbundling: Are We Ready Yet? A Bondholder's Primer

Bruce W. Radford

So the Federal Energy Regulatory Commission (FERC) won't break up the electric utility industry. But it may happen anyway (em if not at the FERC's direction, then perhaps under pressure from state regulators who, some say, are threatening to link stranded-cost recovery to vertical disaggregation.

What would a breakup mean for bonds and bondholders?

As we reported last month ("New Corporate Structures Place Bondholders at Risk," May 1, 1996, p.

Perspective

Frank Clements

Since the federal Court of Appeals decision in the Calvert Cliffs case over 25 years ago, no power plant may be built without a thorough socioeconomic impact statement. Yet, schemes to alter the entire supply system of a state - or even the nation - are currently proposed with only cursory attention to socioeconomic consequences.

Evolution or Revolution? Dismantling the FASB Standard on Decommissioning Costs

John S. Ferguson

If approved as proposed, the new accounting standard

for closure or removal of long-lived assets

will bring costs out into the open.

But is it rational?

On February 7, 1996, the Financial Accounting Standards Board (FASB) issued for comment an "Exposure Draft" of a new proposed statement of financial accounting standards pertaining to nuclear plant decommissioning and other similar legal obligations,

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