According to Chadbourne & Park, LLP, the Internal Revenue Service (IRS) is auditing U.S. companies that bought shares in foreign utilities in recent privatizations to determine whether they should have paid U.S. taxes.
All of the transactions involve debt-equity swaps, which can take many forms. For example, a U.S. company interested in buying shares in a foreign utility first goes into the market to buy bonds of the foreign government.
The Pennsylvania Public Utility Commission (PUC) has decided that Bell Atlantic-Pennsylvania, Inc., a local-exchange telephone carrier (LEC), should reduce rates for its residential digital high-speed service offerings. The residential Integrated Service Digital Network (ISDN) service enables users to access and send voice, data, and imaging services at the same time over their telephone lines.
How the electric industry uses DSM and IRP to build load, ignoring basic truths found in fuel-cycle analysis.It was during the early 19th century that General von Clausewitz announced his nine principles of warfare.
The Federal Energy Regulatory Commission (FERC) has conditionally approved market-based power-sales rates for Plum Street Energy Marketing, Inc., an affiliate of Niagara Mohawk Power Corp. (NMP) (Docket No. ER96-2525-000). It also set for hearing the issue of whether transmission constraints result in market dominance by NMP or its affiliate.
Plum Street's application to market and broker electric power states that it would not market power to NMP unless so authorized by the FERC.
The Michigan Public Service Commission (PSC) has approved a request by Detroit Edison Co., to offer a special discount contract to one of its large industrial customers, MasoTech, Inc. The customer had failed in an earlier attempt to compel the utility to offer transmission service so that it could gain "direct access" to other sources of electric power. See, Re MasoTech Forming Technologies, Inc., 168 PUR4th 142 (Mich.P.S.C.1996).
Once burned, but twice eager, utilities reprise their 1980s-era strategy, this time in the telephone business.
"It's not like they're going to open a pharmacy. It is directly related in some way, or at least arguably."
Earlier this year, 15 utilities grabbed the brass ring: a full-blown chance to enter the telecom business.
The Federal Energy Regulatory Commission (FERC) has announced two policy changes in its first final order on negotiated rates under its policy statement on Alternatives to Traditional Cost-of-Service Ratemaking. The FERC will now require pipelines to file either negotiated rate contracts or tariff sheets that reflect the essential elements of their negotiated rate agreements. In addition, pipelines will no longer be permitted discounted adjustments to their recourse rates.
The case involved NorAm Gas Transmission Co. (Docket No. RP96-200-001).
Stranded Costs Projected at -$2.9B to $22B
The Texas Public Utility Commission (PUC) was scheduled this month to consider estimates of retail competition's impact on electric utilities.
A draft staff report, yet to be reviewed by the PUC, estimates stranded costs that span a high of $22 billion to a low of negative $2.9 billion.
preference before diving into telecommunications.Electric utilities would enjoy a strong measure of credibility with consumers should they decide to enter the telephone business.
That finding comes from a recent nationwide survey of more than 1,000 households, drawn from counties with a population of at least 85,000 (see box for details).
Annual Annual EPS
Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last
Company Region 06/28/96 09/30/96 Change High Low Rate Yield Value Ratio 12 Mos.Electric Utilities
AEP Company Inc. Midwest 42.63 40.63 -4.69 44.75 35.13 2.40 5.91 22.68 13 3.10
Unicom Corp.
