New England Electric System
(November 2007) Public Service Enterprise Group elected Ralph Izzo president and COO of the company and a member of the board of directors. Ralph LaRossa is president and COO of PSEG’s utility business, Public Service Electric and Gas Co. WGL Holdings Inc., and its subsidiary, Washington Gas Light Co., named Douglas Staebler vice president of engineering and construction, and Lauren Foley named vice president of consumer services. ISO New England Inc. elected two new board members: Richard A. Abdoo and Paul F. Levy. And others.
Financial players and load-serving utilities are looking for power asset deals.
Despite talk of wide bid-ask spreads in the past two tumultuous years, some 60 sales of generation assets have been announced. These sales cover more than 22 GW of capacity, valued on a cash-and-debt basis at approximately $11 billion. A wide variety of buyers and sellers have participated in the sales activity, with a pronounced entry by financial players (investment banks and private equity firms) and load-serving entities (LSEs) looking for capacity to serve their load.
As energy suppliers gather more detail about customers, opportunities for segmenting and selling them will increase during the next five years.
As technology such as AMR and improved information-gathering systems enhance customer data, energy service providers will be well-positioned to segment load profiles into valuable blocks for sale. According to PHB Hagler Bailly's "Energy Industry Outlook 2000," this bottom-line-enhancing possibility will contribute to the changing customer-energy supplier relationship during the next five years.
Retail Energy Choice. At press time, Virginia issued proposed interim rules governing pilot programs for electric retail competition in electricity and natural gas, with comments due Feb. 24. The interim rules were not expected to resolve all issues, but only to provide a starting point to gain experience.
Among other points, the interim rules would require utilities to make information available through electronic bulletin boards on availability of commodity supply, ancillary services, and transmission and distribution capacity. Case No.