Become a PUF Member Organization

Commission

Electricity Restructuring is No License for Central Planning

RTOs will perpetuate regional monopolies and political rate regulation.

Economists sometimes get confused - especially when the real world doesn't fit into their neat boxes.

Network industries like telephone and electricity are today's case in point. Economists have viewed these parts of the economy as requiring special attention from regulatory authorities. They're viewed as "natural" monopolies displaying "economies of scope" and characterized by risky "lock-in" or "path dependency" features. That supposedly makes them prone to abuse by their free-market owners, and therefore in need of impartial regulatory oversight.

Byline: 

Wayne C. Crews and Fred L. Smith

Read Entire Article

Bursting The Bubble

Merchants' trading volumes and revenue are still too inflated.

In the post-Enron world, many continue to question the legitimacy of the practice of inflating revenues through the trading business to bolster the company's financial picture.
Byline: 

Richard Stavros

Read Entire Article

Letter to the Editor (May 15, 2002)

EPSA exec rebukes McCullough's claims.

A response to the article "Revisiting California," April 1, 2002: If the issues confronting California’s ratepayers weren’t so important, it would be easy to say that Robert McCullough’s efforts are best published on April Fools Day.
Byline: 

Lynne H. Church

Read Entire Article

People (May 15, 2002)

Dr. Janice A. Beecher has been named director of the Institute of Pubic Utilities at Michigan State University. Calpine announced several promotions to its senior management team. Alliant Energy also announced several new appointments. And others ...
Read Entire Article

Biting Pat Wood's Hand

FERC finds the states have teeth, too.

FERC Chairman Pat Wood ought to be commended for trying to extend a hand of cooperation to state PUCs. But certainly he must by now understand that the nature of the state regulator, as the nature of the wolf, is unchangeable.
Byline: 

Richard Stavros

Read Entire Article

RTOs: The Billion Dollar Advantage

ICF study shows the national benefits of RTOs are too large to be ignored.

Sixty billion dollars in benefits. Less than $6 billion in costs. In any business, those numbers mean just one thing: you've got a winner.
Byline: 

Lynne H. Church

Read Entire Article

Indecent Disclosure?

Most pan FERC NOPR, but gas association eyes FERC role.

Citing overlap with the Securities and Exchange Commission (SEC), the power industry has largely panned FERC’s proposals to require greater disclosure on financial instruments and derivatives.
Byline: 

Richard Stavros

Read Entire Article

Utility Risk Programs: Success or Failure?

State public service commissions are insisting that utilities adopt risk management programs, and are allowing less pass-through for those that don't.

A well-known economist analyzes how well U.S. utilities performed in their risk management programs during 2001/2002.
Byline: 

John H. Herbert

Read Entire Article

Three-Legged Stool

The smart money now treats transmission as a player. Just like generation. Just like load.

Over at the Federal Energy Regulatory Commission, new chairman Pat Wood has let it be known if he had been in charge, he would have postponed Order 2000.
Byline: 

Bruce W. Radford

Read Entire Article

Catch A Wave!

The solution to California's crisis may have been lapping at the beach.

The California Energy Commission recently awarded a $120,000 grant to study the feasibility of using ocean swells as a potential source of renewable energy.
Read Entire Article