The Southern Company named A.W. (Bill) Dahlberg chairman and CEO in addition to his current duties as president. He succeeds Edward L. Addison, 65, who is retiring after 12 years as CEO and more than 40 years with the company. Dahlberg, 54, served as president since January 1, 1994. He began his career with The Southern Company at age 19 when he joined Georgia Power, a subsidiary, as a meter installer.
Ralph Johnson was named v.p., power resources, for the Texas-New Mexico Power Co.
Annual Annual EPS
Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last
Company Region 09/30/94 12/30/94 Change High Low Rate Yield Value Ratio 12 Mos. Electric Utilities AEP Company Inc. Midwest 31.38 32.88 4.78 37.38 27.25 2.40 7.30 22.68 11 2.94
Unicom Corp. Midwest 22.25 24.25 8.99 28.75 20.63 1.60 6.60 24.39 - -0.31
Union Electric Co.
Southern California Edison (SCE) has asked the Federal Energy Regulatory Commission (FERC) to halt the state's Biennial Resource Plan Update energy auction (BRPU). SCE charges that the California Public Utilities Commission (CPUC) violated the Public Utility Regulatory Policies Act (PURPA) and FERC regulations by reinstating the auction late last year.
SCE believes that the auction, which requires California utilities to enter purchased-power contracts, could increase its potential stranded costs by up to $4 billion (in nominal dollars).
Citing credit uncertainties stemming from impending deregulation, Moody's Investors Service has posted negative ratings outlooks for the U.S. electric, telecommunications, and natural gas industries (with the exception of the pipeline segment). Moody's acknowledges, however, that the impact of deregulation will depend on market maturity, relative cost structure, degree of integration, and regulatory flexibility.
Noting the growing global demand for new sources of energy, Congress tailored the Energy Policy Act of 1992 (EPAct) to make U.S. public utility holding companies more competitive abroad. First, it eased the Securities and Exchange Commission review of U.S. investment in foreign energy facilities. Second, it sought to expand U.S. participation in foreign energy-related projects to include U.S. technology as well as investment dollars.