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On the Origin of Markets: Electricity Evolution in the U.K.

A story of power, pools, and parallels with the U.S. experience.

Those in the United Kingdom don’t talk about privatization and electric restructuring in terms of getting it right the first time ... Instead, they use terms like evolution, waves of development, and system adjustments. Industry restructuring is an evolutionary process, not a switch-it-on, one-time event, as generally is assumed in the U.S.
Byline: 

Carl J. Levesque

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Transmission Planning: Weighing Effects on Congestion Costs

Planners should focus on more than just meeting NERC reliability standards.

Do historical costs of grid congestion form a suitable basis for deciding on transmission investments? Further, should planners rely on costs reflected both in short-term nodal or zonal congestion prices, as well as long-term firm transmission rights?
Byline: 

Eric Hirst and Brendan Kirby

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Izzbee, Izz it?

The Energy Industry Standards Board doesn't exist yet, but it's got regulators talking.

More than two years ago, I suggested in this column that regional independent system operators would likely supplant the regional reliability councils as the caretakers of electric system reliability. And that's still possible—if the ISOs move quickly to RTO status, and if the RTOs get cracking right away on adopting uniform business rules. But the FERC may get tired waiting for that to happen.

Byline: 

Bruce W. Radford

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People for July 15, 2001

Gordon van Welie recently was appointed president and CEO of ISO New England Inc. CMS Energy Corp. elected David G. Mengebier as senior vice president of governmental and public affairs. PSEG Global recently named George P. Schaefer as senior vice president of financing and treasurer. FERC announced the appointment of its newest commissioners. And others...
Byline: 

PUF

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Urban Myth: Bush to Help Houston

One of the primary objectives of the Bush administration's energy policy is to increase energy supplies, including the supply of electric generating capacity. Opponents of the Bush plan argue that his plan is nothing more than a scheme to fill the coffers of "Texas"-based companies who supported Bush's election.
Byline: 

Christopher D. Seiple

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News Digest (July 15, 2001)

Compiled June 21, 2001 by Bruce W. Radford, editor-in-chief, from contributions as noted from Carl J. Levesque, associate editor, and Phillip S. Cross and Lori A. Burkhart, contributing legal editors.
Byline: 

Bruce W. Radford, Carl J. Levesque, Phillip S. Cross, Lori A. Burkhart

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The Plague ... of Price Controls

The world goeth fast from bad to worse.

Many public voices today want the government to simply mandate lower energy prices. It is this kind of temper-tantrum-as-policy that makes the Middle Ages seem so, well, medieval, and reminds us why we got rid of kings in the first place.
Byline: 

Philip M. Marston

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L.A. Loves a Loophole

There's no getting around it—price caps aren't for everyone.

A letter to Michael J. Manning at Fulbright & Jaworski, L.L.P. from FERC General Counsel Kevin P. Madden.
Byline: 

Kevin P. Madden

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Reading the T&D Leaves: How Interest Rates Influence Prices for Wires Services

The strong correlation holds lessons for power marketers, who naturally will build large short positions on delivery service.

The analysis shows how one could expect allowed return on equity to change as interest rates change and the resulting financial effect on endusers. The positive side of this thought process is that a continuing low interest rate environment should attenuate the effect of high commodity prices for retail users of electricity.
Byline: 

David A. Foti

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