Commission Watch

Equity Returns: ‘Allowed’ vs. Earned

Understanding how PUC rate case findings differ from a utility’s financial reports.

 

(November 2015) Setting an allowed return on equity has consistently proven to be the most contentious and subjective part of a rate case proceeding.
Byline: 

Phillip S. Cross

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Understanding New York's 'Vision'

A roadmap to ‘REV’ and its plan for restructuring.

New York's far-reaching reform plan, called the Renewable Energy Vision, or “REV,” seeks to decentralize power supply by encouraging distributed resources, and a new regulatory entity will be created called a “Distributed System Platform,” or DSP.
Byline: 

Merrill L. Kramer

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New York Takes the Lead

No proposal is as radical – or as well thought out – as REV.

If the New York Rev is fully implemented, utility earnings would depend more on creating value for customers and achieving policy objectives.
Byline: 

James N. Broder

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Rooftop Solar 2.0

Hawaii and California grapple over net energy metering.

While the underlying questions in each state regarding net energy metering are much the same, the two PUC's will approach the issue from different perspectives.
Byline: 

Bruce W. Radford

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Regulatory Roundup

2004 FERC roundup: Path 15 Upgrade; Gas Bypass Pipeline; Power Line Communications; Gen Station Power Needs; ISO Retail Service; Renewable Energy Portfolios; Gas Supply Risk; Fuel Cost Hedging; Utility Supply Solicitations; Provider of Last Resort; Coal Seam Gas; Deceptive Marketing Practices; Renewable Portfolio Standards.
Byline: 

Bruce Radford

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Risk Holds Sway

Interest rates not always controlling for return on equity. 

(November 2014) Our annual survey of rates of return on common equity authorized by state public utility commissions in recent rate cases for electric and gas retail distribution utilities.
Byline: 

Phillip S. Cross

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FERC's Folly

Remand Order 745, fix the compensation scheme, but retain federal jurisdiction.

Why the D.C. Circuit should rehear the appeal of FERC Order 745, and how it should rule.
Byline: 

Robert L. Borlick

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Enforcement Times Two

FERC and CFTC begin sharing information to target market manipulation in the energy industry.

Closer coordination between FERC and CFTC (and perhaps also with DOJ) will increase enforcement risk for energy industry traders.
Byline: 

Steven F. Reich, Charles F. Connolly and J. Porter Wiseman

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The Powhatan Matter

Market manipulation versus the right to make a profit.

Harvard professor Bill Hogan claims FERC is wrong to find market manipulation where traders simply make profits on market defects known to all.
Byline: 

Bruce W. Radford

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