News Digest

Fortnightly Magazine - August 2000
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News Digest


 

Transmission & ISOs

Florida RTO. Commenting on plans to create a regional transmission organization (RTO) for the state of Florida, a coalition of stakeholders issued a white paper on June 13, questioning whether the RTO would comply with the Federal Energy Regulatory Commission's Order 2000, and in particular asking for more detail on possible conflicts of interest within any future RTO board of directors.

"In general, there is insufficient detail to ascertain whether the Board of Directors' provisions meet the requirements of Order 2000," said the coalition, which includes such diverse companies as Calpine Eastern, Duke Energy North America, Tampa Electric Co., Enron, and Seminole Electric Co-op.

The object of concern was yet another white paper proposal by Florida Power & Light Co., "Proposal for Governance of Florida Transco/RTO," issued May 16.

The coalition also said that a member of the board of directors should be required to sell within six months any stock he or she owned in a market participant under all circumstances. The FPL proposal contains a similar provision, but would allow the director to hold the stock if it is "depressed." The coalition also wants to put a cap of 5 percent on a market participant's ownership interest in investment banks or funds having a financial stake in the RTO.

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