Calendar of Events

Sep 29, 2014 to Oct 03, 2014 | Michigan State University, Lansing MI
Oct 01, 2014 to Oct 03, 2014 | Washington, DC

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Public Utilities Reports

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Energy Policy Act of 2005

Focus on LNG Siting: A State Perspective

Congress revamps LNG and storage, giving broad new powers to FERC. Why the Feds still must consult with local authorities.

Ken Costello

A major objective of the Energy Policy Act of 2005 (EPACT) is to counter the worsened conditions in the natural-gas market that began in 2000 and are expected to continue over the next several years—namely, tight natural-gas supplies and high, volatile gas prices caused by a distinct shift in the supply-demand balance. Any noticeable reductions in gas prices that might be effectuated by the act will have little impact on natural-gas prices for a number of years.

The Gas Storage Conundrum

Congress allows market-based rates. How will FERC respond?

J. Michel Marcoux

As a rare amendment to a venerable statute, EPACT05 § 312, New Natural Gas Storage Facilities, made headlines, adding an option for interstate, market-based storage rate making. It would encourage new storage facilities by permitting FERC to authorize market-based storage rates, even when the applicant is unable to demonstrate it lacks market power. After authorizing such rates, FERC periodically must review them.The problem with the new law is that it does not specify those review periods.

Frontlines

Is the predicted crisis this winter a failure of policy, the market, or both?

Richard Stavros

Given the free market in natural gas, why haven't prices attracted the needed infrastructure or supply? (LNG imports are actually down from last year.) What policies could have been contemplated ahead of national legislation? Or put more simply, why has supply lagged demand?

Power Measurements

The new Clean Air Interstate Rule is having an unexpected impact on power generation asset values.

Gary L. Hunt

With compliance costs estimated at $50 billion to $60 billion during the next 15 years, the Clean Air Interstate Rule (CAIR) affects just about every market participant in the electric power industry.

CFOs Speak Out: Looking Beyond Power

Chief financial officers discuss new strategies and the possibility of further convergence inside and outside the energy industry.

Richard Stavros

A whole new cast of characters is expected to enter the energy industry—overseas ventures, telecom firms, insurance companies, and financial-services groups. But even as the future seems to hold boundless opportunity, utility executives and industry experts continue to disagree on what sort of consolidation is right.

Utility M&A: How Many Deals, and How Soon?

By opening the field to far-flung deals, PUHCA’s repeal changes the merger game.

Michael T. Burr

The repeal of the 1935 Public Utility Holding Company Act has attracted a surprising amount of attention in the business and consumer press. But while some analysts predict a wave of utility M&A activity, others are more sanguine about the change.

Following Up on a Capital Performance

Utility stocks have outperformed the broader market. Can the industry deliver a show-stopping second act?

Paul Donahue

The utility sector has been one of the best performing sectors in the equity capital markets for more than two years. In many respects, this has been a case of the rising tide lifting all ships.

A Low-Voltage Energy Bill

While a few provisions are worth embracing, most of its 1,724 pages represent a waste of good timber.

Peter Van Doren and Jerry Taylor

After four years of legislative trench warfare, contentious legal wrangling, and heated partisan rhetoric, President Bush finally got what he wanted—a really big energy bill. What he did not get, however, was an internally consistent "national energy strategy." Examination of the legislation reveals that its title—the Energy Policy Act of 2005—is less descriptive than the title popularized by Sen. John McCain: the No Lobbyist Left Behind Act of 2005.

A Welcome Truce in the Electricity Wars

Let's enjoy this brief period of diminished acrimony before implementation of this landmark law.

Peter Fox-Penner

In a time of record high gasoline prices, war, and increasingly shared global climate concerns, it is lamentable that the Energy Policy Act of 2005 does so little to address these critical issues. Within the narrower context of policies primarily affecting the electric power industry, however, this is a much more significant piece of legislation, and it includes a few accomplishments bordering on the extraordinary.

The Energy Policy Act of 2005: Two Views

What the legislation says about a national strategy.

Christian Hamaker

Now that the Energy Policy Act of 2005 has had a chance to sink in, a review of the bill's perks and pork is in order. Supporters of the 1,724-page piece of legislation laud it as a triumph of job-creating bipartisanship that attempts to shore up our energy supply, while detractors call it a gargantuan giveaway to a well-heeled industry.

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