Fortnightly Magazine - June 1 2003
By 2020, nearly half the workforce will be female and non-white. Are utilities ready?
Meeting tougher CO2 emissions limits will require deep pockets.
It's a tough problem that we have less than 22 years to solve. I had the occasion to chat with Dr. Henry R. Linden, Max McGraw Professor of Energy and Power Engineering at the Illinois Institute of Technology, about how the U.S. power industry must face the necessity of sharply reducing its CO2 emissions while having to increase its summer electric generating capacity from 781 GW in 2000 to 1,174 GW in 2025, according to the Energy Information Administration.
Virginia's State Corporation Commission (SCC) named Howard M. Spinner as director of its Division of Economics and Finance, replacing Richard J. Williams. Williams is retiring after 22 years with the commission. Spinner has been with the SCC since 1998.
The Western Electricity Coordinating Council board of directors elected Jack L. King as its chair and Ronald D. Nunnally and Tim Newton as vice chairs.
The commission tacks a new name onto a familiar concept.
By now it is old news that the Federal Energy Regulatory Commission (FERC) on April 28 back-pedaled on standard market design (SMD), even renaming it the "wholesale power market platform." But SMD is far from dead, as some had wished. Instead, it is merely toned down, bowing to political furor and regional differences.
The collapse of wholesale markets has utilities once again making the purchasing decisions, and taking all the risks.
If a common theme is emerging from the various policy directions across the country, it seems to be that responsibility for supply resources is moving away from open markets and back into the hands of load-serving utilities.
What is risk management?
No, it's not a brainteaser. It's the driving question behind , a new book from authors Shirley S. Savage and Peter R. Savage that offers a risk primer for energy company employees and executives.
Implementing new credit risk management standards and best practices may require an overhaul of current utility IT systems.
Information overload is a serious risk to the effectiveness of the credit management process, especially as it relates to developing IT systems to implement the recent credit risk standards developed by best practice group, the Committee of Chief Risk Officers (see the CCRO's Credit Risk Management Report, www.ccro.org [Nov. 19, 2002]).