Nearly three years on from the Yellow Book,1 after many long hours and thousands (em if not millions (em of pages, and following much bitter debate (linked with some murky politics), the California Public Utility Commission (CPUC) by a 3-2 majority has at last published an Order2 to introduce competition for retail customers.

The decision contains four main proposals:

s market structure

s access for custo

The California Public Utilities Commission (CPUC) has asserted jurisdiction over a controversial proposal by Southern California Edison Co. (SCE) to transfer personnel and assets from an existing ratepayer-funded energy-efficiency program to an unregulated affiliate.

jü( )l, n: A unit of energy measurement equal to a watt-second.

Tenneco Energy and Chinese Petroleum Corp.'s new alliance plans to work on natural gas transmission facilities, power plants, and other energy ventures in Taiwan and North America. Their first project is a

600-Mw natural gas-fired power plant near Taipei, expected to go on line in June 1998. CPC is one of Asia's largest state-owned energy companies; Tenneco Energy, of Houston, transports or markets about 16 percent of the natural gas used in the United States.

Robert W. Foy replaced Charles H. "Bud" Stump as chairman of California Water Services Co. Stump, who has been with the company 45 years, will remain on the board. Foy, president and CEO of Pacific Storage Co., has been a CWS director since 1977.

The Gas Research Institute board of directors elected Christine A. Hansen and Stanley C. Horton as new members. Hansen, executive director of the Interstate Oil and Gas Compact Commission, joins GRI as an at-large director.

In a little over a year, the electric utility industry has seen six significant mergers.1 This trend toward consolidation most likely will increase as the industry becomes more competitive.

Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last

Company Region 06/30/95 10/02/95 Change High Low Rate Yield Value Ratio 12 Mos.Electric UtilitiesAEP Company Inc. Midwest 35.13 36.13 2.85 36.50 30.50 2.40 6.64 22.68 14 2.63

Unicom Corp.

MidCon Corp. named Dennis M. Lawler power marketing v.p. in its MidCon Power Services Corp. unit. Lawler comes from Consolidated Natural Gas Co.

In a promotion, Mark Kugelman will manage account sales for Parker Hannifin Corp.'s Power Distribution Group.

The American Gas Association (A.G.A.) elected chairmen for its financial and administrative, operating, marketing and legal sections: Bruce R. Debolt, senior v.p. and CFO of Northwest Natural Gas Co.; Frederick L.

The California Memorandum of Understanding (MOU) is an agreement between Southern California Edison Co. (SCE), the California Manufacturers' Association, the California Large Energy Consumers' Association, and the Independent Energy Producers. It tackles three major issues:s recovery of stranded assets

s market power

s market structure.

If the MOU is eventually endorsed, it might be a landmark in electric restructuring \(em and not only in California.

At the request of California Gov. Pete Wilson (R) and key state legislators, Southern California Edison (SCE) has forged a consensus with a broad coalition, including electric customers and independent power producers (IPPs), on restructuring principles for California's electric utility industry. According to Thomas Higgins, SCE spokesman, the negotiated settlement represents a breakthrough compromise for the "PoolCo" and "anti-PoolCo" camps that will help prevent a fight in the legislature.