Capitol

The White House energy task force plans to forwardrecommendations for a national energy policy to Capitol Hill inearly April, according to a top staff official for the task force.

Rep. Tony Hall (D-OH) has introduced legislation to create anatural gas reserve to help stabilize the market during times oflow supply and high prices. The proposed reserve would be modeledafter the Strategic Petroleum Reserve (SPR) and the Northeast HomeHeating Oil reserve, the latter of which allows heating oilsupplies to be drawn down during times of tight supply.

Sen. Dianne Feinstein (D-CA) introduced legislation on CapitolHill last week that would give the Department of Energy (DOE) theauthority to overstep FERC by setting an interim regional price capor cost-based rates on wholesale power transactions in 11 westernstates.

Sen. Dianne Feinstein (D-CA) is preparing legislation that wouldcall for a price cap to be imposed on wholesale electricitytransactions in the western region during emergency situations, anaide to the senator said.

Sen. Dianne Feinstein (D-CA) is preparing legislation that wouldcall for a price cap to be imposed on wholesale electricitytransactions in the western region during emergency situations, anaide to the senator said.

There appears to be one issue that Republicans and Democrats onCapitol Hill can agree on — gas prices are too high. ChairmanFrank H. Murkowski (R-AK) of the Senate Energy Committee andRanking Minority Member Jeff Bingaman (D-NM) have called for anoversight hearing to look into rising natural gas prices.

Capitol Hill observers who had expected the electricderegulation legislation of Sens. Phil Gramm (R-TX) and CharlesSchumer (D-NY) to be more aggressive and comprehensive than otherbills languishing in the Senate weren’t disappointed last week.

Capitol Hill observers who had expected the electricderegulation legislation of Sens. Phil Gramm (R-TX) and CharlesSchumer (D-NY) to be more aggressive and comprehensive than theother bills pending in the Senate weren’t disappointed yesterday.

If you made the trip to Capitol Hill or were listening over theWeb last Thursday, your jaw probably dropped a few inches whenChairman Thomas Bliley (R-VA) of the House Commerce Committeeannounced to a packed hearing room that he was postponing thescheduled markup on electric restructuring legislation until thisweek. At press time Friday, the committee hadn’t yet set a new datefor the markup, but an aide said the goal was to do it this week.