Benefits

Providing a lengthy list of expected merger benefits,Commonwealth Edison and PECO Energy told FERC and the PennsylvaniaPUC in applications yesterday that they expect approval in nearrecord time. They said the deal will “enhance electric competition,foster FERC’s independent transmission system initiatives, protectboth wholesale and retail customers, and ensure sufficient, safe,reliable, low-cost and clean energy for consumers.” They alsobelieve the merger meets all FERC criteria. A notice ofreorganization is expected to be filed shortly with the IllinoisCommerce Commission, the companies said.

One year into electric deregulation, the benefits promisedconsumers by the California legislature have failed to materialize,making monopoly utilities the primary winners in the state’sderegulation game, according to San Francisco-based The UtilityReform Network (TURN), the state’s major utility consumer group.

One year into electric deregulation, the benefits promisedconsumers by the California legislature have failed to materialize,making monopoly utilities the primary winners in the state’sderegulation game, according to San Francisco-based TURN, TheUtility Reform Network.

In preparation for a major workshop on capacity auctions, FERCon Friday issued a staff paper that provides an overview of thesubject – the benefits of auctions, factors to be considered whendesigning auctions, the different types of auctions, the use ofauctions in the pipeline industry today and a glossary of auctionterms.

UtiliCorp United said its power marketing operations willcontribute positively to second quarter earnings before interestand taxes. Wholesale electricity volumes for the quarter areexpected to be about 24.8 million MWh, up about 112% from the 1997quarter.