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Fortnightly Magazine - April 15 2002

A Winning Proposition?

A response to Bruce Radford’s “100-to-1 Odds, Why merchant transmission still looks iffy,” in the March 1, 2002 issue.

Jim Schretter

Competitive transmission is already a proven and sound business model. With the right regulatory rules, competitive transmission can make major efficiency improvements to the existing transmission system.

Bush’s Clear Skies Initiative: What Does it Mean for Coal?

Sarah Noecker

The Clear Skies Initiative proposes to cut emissions of sulfur dioxide, nitrogen oxide and mercury by about 70 percent from current levels by 2018. What does the proposal mean for the coal industry? RDI Consulting believes it is a mixed bag.

Moving Gas to Generate Power: An Encore for Hrehor/Sytsma

While responsive to the operational requirements of the particular systems, several new pipeline services enable generators to react more promptly to spiking electric demand.

Michel Marcoux

Putting flesh on the gas-power vision, pipeline efforts to formulate services for generators, and FERC orders governing those efforts now assume a discernible shape. This is a reasonable time to take stock.

Catch A Wave!

The solution to California's crisis may have been lapping at the beach.

The California Energy Commission recently awarded a $120,000 grant to study the feasibility of using ocean swells as a potential source of renewable energy.

Utility Valuation: Shedding Light on the Black Box

Experts debate how energy companies should be valued in the wake of electric restructuring and Enron.

Richard Stavros

Credit downgrades, bankruptcy, and investor backlash against energy companies has exposed how inadequate the valuation of energy companies is. Experts debate just how to value the industry.

The Fear Factor

Understanding power company volatility in the context of valuation theory.

Kevin Phillips

A top CSFB investment banker analyzes how recent power sector volatility can be understood in the context of valuation theory.

Vertical Integration: Necessity or Distraction?

An analysis of the latest wave of unbundling, re-bundling, and convergence plays in the gas-power industries.

Dan Gabaldon and Joe Quoyeser

In any industry, companies must choose a portfolio of assets and businesses to own along a value chain. In doing so, they make an implicit trade-off between the benefits of focus and vertical integration.

A Hope, A Wing, and A Prayer: Toward a Standard Market Design for RTOs

On the virtues and vices of ICAP, ACAP, FTRs, hubs, flowgates, DAMs, and gaming.

Bruce W. Radford

An in-depth analysis of the myriad of issues affecting the true development of competitive power markets.

Repeatable M&A: Creating a Value Chain Reaction

How building capabilities for repeated M&A can increase shareholder value.

Michael Bier and Mark Ciolek

Utilities that don’t prepare now for further consolidation cannot maximize value to their shareowners.

M&A 2002: The Need for Strategic Clarity

What type of merger strategy should energy companies pursue in light of new industry uncertainties?
Richard J. Rudden and James P. Bolduc