Law & Lawyers

PSC - Restructuring Orders

PLANS OK'D for electric IOUs under New York's Competitive Opportunities docket.

CENTRAL HUDSON GAS & ELECTRIC CORP. RETAIL CHOICE: Offered to 8 percent of total load in 1998; additional 8 percent each year; choice for all by July 1, 2001. SAVINGS: $10.5 million to fund 5-percent rate cut for large industrials; all other rates frozen (since 1993) through June 30, 2001. Earmarks $24.5 million for incentives for residential, commercial and small industrial classes. Generation backout rate is highest among IOU restructuring plans.

The Cost of Reducing SO2 (It?s Higher Than You Think)

LAST YEAR, IN JUSTIFYING THE PROPOSED NEW NATIONAL AMBIENT Air Quality Standards (NAAQS) for particulate matter and ozone, Environmental Protection Agency Administrator Carol Browner testified that: "During the 1990 debates on the Clean Air Act's acid rain program, industry initially projected the costs of an emission allowance¼ to be approximately $1,500¼ Today those allowances are selling for less than $100." %n1%n

Later in 1997, at the White House briefing announcing President Clinton's Global Climate Change Plan, Katie McGinty, chairwoman of the Council on Environmental Quality, sa

Ready for CO2 Allowances? U.S. Passes on Emissions Cap, Kyoto or No

FOILING EXPECTATIONS OF BOTH SUPPORTERS AND detractors, the Clinton Administration's proposed electric restructuring legislation offered no new policy on carbon-dioxide emissions, such as a cap-and-trade program similar to that already in place for sulfur dioxide.

But don't breath a sigh of relief. The debate has only begun.

Many observers see the Administration's tactics on CO2 as an obvious attempt to sidestep a highly sensitive political issue. They appear to agree that at some point the Administration must confront CO2 emissions.

The Electric Competition Debate in...Ohio

WHAT IF YOUR STATE LEGISLATURE THREW A PARTY and you had to go? Best of all, this power party cost less than the one you went to (em and paid more to attend (em last year.

In simple terms, that's how some observe Ohio's latest proposal to convince the state's 11 million wary consumers to choose their electricity provider.

Two Republican state legislators have proposed the consumer-bent transitional system, called retail marketing areas or RMAs, as part of a broad electric restructuring program. The pair, Sen. Bruce E. Johnson and Rep. Priscilla D.

People

ENERGY SECRETARY Federico Peña announced April 6 that he was stepping down, effective June 30. Peña plans to pursue other career options in private business and tend to family matters. Peña said he was sure his deputy, Elizabeth Anne Moler, former chairwoman of the Federal Energy Regulatory Commission, was "right up there" on President Clinton's list of potential replacements.

Doris F. Galvin was elected vice president and treasurer of CMS Energy Corp. Galvin has served as vice president and treasurer of Consumers Energy, CMS Energy's principal subsidiary, since 1993.

The Electric Competition Debate in...New York

HAS DISAGREEMENT BETWEEN STATE HOUSE AND COMmission stalled electric industry restructuring efforts in New York?

Sheldon Silver, speaker of the New York State Assembly, insists the Legislature is busy working on comprehensive restructuring legislation for the state. He has expressed dismay at efforts of the New York Public Service Commission, which is restructuring the industry utility by utility.

Silver believes legislation offers the best chance to introduce competition quickly and efficiently, rather than through multiple, individual restructuring plans.

Off Peak

AS UTILITIES FACE A MARKET WITH A PREMIUM brand identification, new board members increasingly have stronger backgrounds in marketing and financial services, according to a recent survey of 50 leading utilities by consulting firm Spencer Stuart.

Frontlines

AN EDITOR'S JOB IS A CONTRADICTION IN TERMS. Reveal the truth, unmask what's fake. Simplify, but entertain. Attract attention, but don't get noticed.

Sometimes, however, you've got to stick your neck out. So that's what I did a few weeks ago when I wrote how Commissioner Curt Hébert had become a "loose cannon" at the Federal Energy Regulatory Commission by sometimes refusing to go along with the full agenda. I posed a question: Was Hébert the Commission's nemesis?

Well, this time I did get noticed (em by none other than the commissioner himself.

Investor Beware: Don?t Overestimate Financial Returns In a Restructured Electric Industry

TODAY THE ELECTRIC UTILITY INDUSTRY HURTLES TOWARD massive restructuring. This fervor is not surprising as it appears society has become convinced that market forces can work better than a centrally planned, regulated environment. This conviction draws strength from deregulation in other industries, such as the airlines, natural gas production and telecommunications.