electricity

The state of California’s persistent claim that it’s owed $8.9 billion for electricity overcharges during the May 2000-May 2001 period “has not and cannot be substantiated,” said Chief Administrative Law Judge Curtis L Wagner in his report and recommendations to the full Commission last week.

The state of California’s persistent claim that it’s owed $8.9 billion on electricity overcharges for the May 2000-May 2001 period “has not and cannot be substantiated,” said Chief Administrative Law Judge Curtis L Wagner in his report and recommendations to the full Commission yesterday.

The New York Independent System Operator (NYISO) is asking FERC to approve a market design in New York electricity markets based on an unforced capacity (UCAP) methodology, which it says will offer an incentive for generators to improve the efficiency of their generating assets. More broadly, the ISO expects the UCAP proposal to bring it one step closer to the development of a common installed capability (ICAP) market design among the various Northeastern ISOs.

FPL Group Inc. of Florida announced that Moray Dewhurst has been elected to the position of CFO of the $7 billion electricity-related services company. He will assume his new position in mid-July. Dewhurst previously served as a senior partner and director of Dean & Co., a management consulting and investment firm that he cofounded in 1993. While at Dean, he worked closely with FPL Group and its businesses. Under contract with FPL Group and Entergy Corp., Dewhurst had the responsibility for leading the financial integration team for the two companies prior to their merger being terminated in April. He also has assisted FPL Group’s independent power producer subsidiary, FPL Energy, in assessing its operations and subsequently redesigning business processes, as well as developing analytical tools and techniques to enhance business operations and planning.

FPL Group Inc. announced that Lewis Hay III has been elected president, CEO and a director of the $7 billion electricity-related services company. He succeeds James L. Broadhead, who will remain as chairman through the end of the year. Since March 2000, Hay had been serving as president of FPL Energy, the company’s independent power production company and its fastest growing business. He joined FPL Group in August 1999 as CFO. Hay will continue to serve as president of FPL Energy until a replacement is named, the company said.

In an attempt to avoid electricity shortages predicted in the state by the end of the decade, Minnesota legislators passed a compromise energy bill last week that among other things, improves energy conservation, requires statewide planning for energy needs and clarifies regulations for building power plants and transmission lines. The legislation (SF022) is expected to be signed by Gov. Jesse Ventura and enacted in 2002.

In an attempt to avoid electricity shortages predicted in the state by the end of the decade, Minnesota legislators passed a compromise energy bill late Monday that among other things, improves energy conservation, requires statewide planning for energy needs and clarifies regulations for building power plants and transmission lines. The legislation (SF022) is expected to be signed by Gov. Jesse Ventura and enacted in 2002.

Williams outbid Royal Dutch/Shell Group for Barrett Resources Corp. based on “electricity economics, along with fully integrated economics,” Stuart Wagner, a principal with Petrie Parkman told a GasMart/Power 2001 audience last Thursday. He suggested other merchant operators might also be in the market for gas reserves.

As the price and availability of electricity looms ever larger as a topic of national debate, public power is getting a closer look from industrial and commercial power users and that growing interest in public power is occurring not just in places where you would expect it, like California, but across all regions of the country. So says Carmine Grastataro, senior vice president at RKS Research & Consulting, who sat down with NGI for a brief interview after appearing before a panel at NGI’s GasMart/Power 2001 conference in Tampa, FL, last Thursday.