Glenn P. Barba has been elected vice president and controller of Consumers Energy. He joined the utility in 2001 as controller. Previously, he served as controller for CMS Generation. Before joining CMS Generation in 1997, Barba spent nine years in public accounting, with a focus on the energy industry. Consumers Energy also named Kim D. Morris, a 20-year human resources veteran at the company, as human resources director for Consumers Energy's generating plants.
Cinergy Corp. named Sherrie N. Rutherford vice president of special projects for Cinergy Services Inc. Rutherford formerly served as vice president and general counsel for the pipeline group and trading operations, and associate general counsel for Reliant Energy Wholesale Group.
Philip R. Sharp, a former Indiana Congressman, will serve as advisor on consumer choice and energy deregulation at Columbia Energy Group. Sharp is a lecturer in public policy at Harvard University's John F. Kennedy School of Government and a member of the U.S. Secretary of Energy's Advisory Board.
MIDWEST POWER PRICES. Federal Energy Regulatory Commission Chairman James Hoecker announced July 15 that as soon as the staff presents its findings, the FERC will deal with the complaints filed by Cinergy, Steel Dynamics Inc., and others asking for regulatory relief from the late June run-up in Midwest bulk power prices (as high as $7,500 per megawatt-hour), and for a price cap set at $100/MWh. Nevertheless, Hoecker advised that the FERC was in "no hurry," and that the remedies available to it were not entirely clear. Docket No. EL98-53 (Cinergy), filed June 29, 1998; Docket No.
The United States Enrichment Corp. (USEC), after consulting with the U.S. Treasury Department, has selected investment bankers for its proposed privatization. The Energy Policy Act of 1992 called for USEC to prepare two paths to privatization: an IPO and a negotiated mergers and acquisition transaction with a third party. USEC supplies 86 percent of the domestic uranium enrichment market, and 37 percent of the world market.
Based on competitive bidding, Morgan Stanley & Co., Inc. has been chosen as transaction manager.
The United States Enrichment Corp. (USEC), the world's largest producer of uranium enrichment services, has submitted its privatization plan to President Clinton and Congress. The plan, mandated by the Energy Policy Act of 1992, suggests that USEC be sold to the private sector early in 1996 under a dual approach that simultaneously pursues a public offering of common stock and a negotiated merger or acquisition by a third party.