Calendar of Events

Sep 08, 2014 to Sep 10, 2014 | Chicago, IL
Sep 29, 2014 to Oct 03, 2014 | Michigan State University, Lansing MI
Oct 01, 2014 to Oct 03, 2014 | Washington, DC

Keywords

Public Utilities Reports

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IOUs

Special Report Developing Competitive Power Markets: The Planning Stages

Lori A. Burkhart

A special report

on transmission,

power pools, ISOs,

and the fallout from FERC Order 888."WHAT IS NEW IN THE INDUSTRY IS

not the conclusion that coordination in operations is needed to avoid chaos.

Trends

Kent Knutson, Christopher Neil, and Albert Pearson

Over the past two and a half years, 10 large mergers have been announced, involving 21 investor-owned electric and gas utilities. Only the MidAmerican Energy merger has been completed, but the estimated market value of the pending mergers is an astounding $40.5 billion. Clearly, this recent wave of merger and acquisition (M&A) activity signals that electric utilities are positioning themselves for future competitive energy markets.

Results from Resource Data International's (RDI's) recent study, U.S.

Mailbag

David P. Larson

I was amused by your "Headlines" item on the Reason Foundation's study calling for privatization of TVA and the power marketing administrations due to government subsidization and poor management (May 15, 1996, p. 16). If those were the two overriding issues, one could argue in favor of swapping segments and doing something different with the segment that costs the government the most.

Mailbag

Curbing Market Power

or Power Markets?

In their article, "Curbing Market Power: The Larger the Better" (Apr. 15, 1996, p. 10), Christopher D. Seiple and Douglas M. Logan show that market-share indices can be derived from commercially available databases. The authors reference their soon-to-be-released study, U.S. Electric Utility Industry Mergers and Acquisitions, as a source for further market-power assessments.

The topic is timely. The U.S.

A Champion for Public Power

Joseph F. Schuler, Jr.

Soft-spoken, but no featherweight,

APPA Director Alan Richardson will fight

toe-to-toe with well-heeled

adversaries. If he were a boxer, his name might be Alan "The Right" Richardson.

The executive director of the American Public Power Association (APPA) always toes the canvas, swinging for equity for his 1,750 members, shadowing its "heavyweight" adversaries, investor-owned electric utilities (IOUs).

California IOUs Draft FERC Filings

Lori A. Burkhart

The three largest California investor-owned utilities (IOUs) (em Pacific Gas and Electric Co., San Diego Gas & Electric Co. (SDGE), and Southern California Edison Co. (SCE) have circulated for comment working drafts of future Federal Energy Regulatory Commission (FERC) filings concerning a deregulated electricity industry.

One 150-page proposal asks that operational dispatch control of transmission facilities be conveyed to an ISO, beginning January 1, 1998.

Mergers: Driven by Dividends?

Chris Neil, and Albert Pearson

The movement to introduce competition in the electricity industry comes at a time when many utilities are already ailing or underperforming. In fact, since 1990, half of U.S. investor-owned utilities (IOUs) have failed to consistently grow their dividends, or have cut or eliminated them altogether. According to a new study by Resource Data International, U.S. Electric Utility Industry Merger and Acquisitions, 1996, the current trend toward mergers and acquisitions is fueled by a desire to improve shareholder returns.

Mailbag

Genco Risk: "Location, Location, Location"Vinod Dar's recent article, "Competition, Convergence . . . and Cashflow? The Power Business in the Next 20 Years" (Apr. 1, 1996, p. 31), highlighted some of the risks inherent in investments in new power generation plants in a restructured electric industry.

Frontlines

Bruce W. Radford

I don't know about you, but the Internet is driving me carzy. Every week I discover a half-dozen new home pages to add to my reading list. Some may view NetscapeÔ as an investment play. I see it as drama.

As a magazine editor (em someone who gets paid to follow the news (em I feel guilty if I don't click on every link and download every file. I call it the "obligation to surf." And the problem grows worse as more government agencies post their decisions online.

Stranded Investment: Is the Sale Worth Keeping? (A Look at Utility Options)

Stan Hadley, Eric Hirst, and Lester Baxter

Giving up today's customer to retail wheeling could help cut losses tomorrow.

Estimates of stranded investment for U.S. investor-owned electric utilities (IOUs) range from as little as $20 billion to as much as $500 billion (em more than double the shareholder equity in U.S. utilities.

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