PacifiCorp

A broad coalition of 30 utilities, environmental groups, and consumer organizations delivered a letter on September 18 to members of the Northwest U.S.

demand-side management programs. A study of the functioning of interim policies on DSM cost-recovery methods indicated that the lost revenue recovery encouraged the utility to meet its conservation resource goals, according to the PSC.

For almost a decade now, the Federal Energy Regulatory Commission (FERC) has pursued the goal of promoting competition in bulk-power markets, focusing on access to transmission as its primary tool to achieve that end. This trend first emerged in the 1987 PacifiCorp merger case. It gained momentum with the strong message sent by the Congress in the Energy Policy Act of 1992 (EPAct).

United Water has named Robert A. Gerber, Jr. v.p. of corporate law for United Water Management & Services, a subsidiary.

AstroPower, Inc., a semi-conductor company specializing in photovoltaic energy conversion and optoelectric technology, has appointed Dr. George W. Roland v.p. and g.m. of its solar power business.

Eldon A. Cotton, assistant g.m.-power for the Los Angeles Department of Water and Power, was named president of the American Public Power Association.

Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last

Company Region 03/31/95 06/30/95 Change High Low Rate Yield Value Ratio 12 Mos.Electric Utilities

AEP Company Inc. Midwest 31.75 35.13 10.63 35.75 29.00 2.40 6.83 22.68 13 2.68

Unicom Corp. Midwest 23.75 26.63 12.11 27.75 20.63 1.60 6.01 24.39 14 1.90

Union Electric Co.

"It could have been worse."

"It says to the market, `It won't be so bad.' It will take longer now, so that's better for the utilities."

"It creates a new bureaucratic entity that will make regulatory choices."

"It's regulated deregulation. It's alarming if that's the prototype for the nation."

That's the word, respectively, from Barry Abramson at Prudential Securities, Edward J. Tirello, Jr. of NatWest Securities, Steven Fetter at Fitch Investors Service, and Dan Scotto of Bear Stearns.

Imagine you're the principal energy buyer for a national chain of managed health care centers, with a $200-million annual energy tab. Top management asks you to assess how the chain can cut its energy bills.

You turn to your local electric and gas utility, which talks a lot about customer service, but doesn't have much to show for it yet.

Annual Annual EPS

Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last

Company Region 09/30/94 12/30/94 Change High Low Rate Yield Value Ratio 12 Mos. Electric Utilities AEP Company Inc. Midwest 32.88 31.75 3.42 35.75 27.25 2.40 7.56 22.68 12 2.71

Unicom Corp.

The Federal Energy Regulatory Commission (FERC) set in motion a new round of restructuring for the U.S. electric power industry when it issued its latest Notice of Proposed Rulemaking (NOPR).

There is a price to pay for becoming a lean, mean fighting machine, and utilities paid the price in 1994.

A number of electric utilities saw revenues increase last year on the strength of higher sales, but the costs associated with laying off hundreds of employees and downsizing company operations took a significant bite out of earnings.

A PUBLIC UTILITIES FORTNIGHTLY survey of the nation's top 20 electric utilities shows an increase in their combined 1994 revenues to $107 billion, a healthy 3.6-percent rise over the previous year.