Succumbing to the pressure of its debts, the Tennessee Valley Authority (TVA) has halted construction on three nuclear power plants, the only remaining incomplete plants in the nation. According to chairman Craven Crowell, TVA can no longer foot the bill alone. So far, TVA has invested about $4.6 billion in two unfinished units at the Bellefonte Nuclear Plant in Alabama, and $1.7 billion in Watts Bar 2 in Tennessee. TVA estimates it will cost as much as $8.8 billion to finish all three units. (The Bellefonte units are 88 percent and 57 percent complete, respectively.

The meltdown of the Clinton health reform plan suggests a return to competition-that managed care, capitated payment, and regional alliances will assume leading roles in the delivery of health service. But that conclusion may prove premature. Missing from the debate is a discussion of the true costs and implications of these emerging health alliances and health management organizations (HMOs).

Managed care may not offer the expected panacea for containing health costs.

Under new IRS guidelines (Revenue Procedure 95-10) issued January 17, 1995, a foreign company qualifying as a partnership must have at least two shareholders.

The fledgling industry is also staking out its regulatory territory. Notably, on December 14, the FERC ordered the Tennessee Valley Authority (TVA) to provide nonfirm transmission service to AES Power Inc.

The Federal Energy Regulatory Commission (FERC) has adopted a policy statement on hydroelectric plant decommissioning, claiming authority to deny new project licenses when existing licenses expire and to order owners to remove a dam during the relicensing process. These measures would only be applied if the FERC concludes that a project, no matter how many conditions were imposed, could no longer meet the comprehensive development standard of the Federal Power Act (FPA) (Docket No. RM93-23-000).

The statement was one of three hydroelectric orders considered as a group.

MAPP wants to apply a distance-based transmission charge for wholesale coordination transactions of four years or less between pool members.

The Environmental Protection Agency (EPA) has approved a plan by 12 northeastern states and the District of Columbia (the Ozone Transport Commission (OTC)) to improve air quality under the Clean Air Act. The plan allows the OTC to establish an alternative-fuel vehicle program fashioned after California's, beginning in model year 1999, or to choose other measures that would provide equivalent pollution reductions. The OTC plan envisions the sale of certain advanced technology vehicles that reduce pollution by more than 70 percent.