As the Megawatt Turns

Energy scandals have made the industry the target of CBS prime-time morality soap operas and a movie.

One can only guess which energy company CBS-TV's "Touched by an Angel" was thinking of when it featured the character David Satterfield, an executive at "Dyna Energy." And the CBS movie, "The Crooked E: The Unshredded Truth about Enron," left no doubt about which company was being thought of.

The Russian power sector is priming itself for outside financial and infrastructure investment. By Branko Terzic and James Balaschak

Prospects for the successful development of the Russian power sector in the next 20 years will depend on the inflow of private investment into the industry. The crucial task, as clearly understood by both the Russian government and the management of the major power companies, is how to significantly raise the attractiveness of the industry to private investors.

The Department of Energy is gambling on the wrong fusion approach and may needlessly burn up billions in taxpayer dollars in the process.

Fusion power research is at a crossroads. Continuing along the current path will almost certainly lead to major disappointment for one of the few long-term energy sources potentially available.

California Gov. Gray Davis named Michael Peevey president of the state's PUC, replacing Loretta Lynch. Lynch was expected to remain with the commission until the completion of her term, in January 2005. Peevey has served on the commission since March of 2002. He previously was president of Edison International. Davis also appointed Susan Kennedy commissioner, replacing Henry Duque.

Richard G. Newman, chairman and CEO of AECOM Technology Corp., joined the Sempra Energy board of directors.