California Gov. Gray Davis on Friday signed a short-term measure(AB 7X) to allow the state to get into the bulk power spotpurchasing business immediately. He also ordered the state waterresources department to begin setting up a power auction processanticipating it will be authorized by another new state law thatwill be finalized this week to seek long-term electricitycontracts. Observers and market participants, however, say themeasures probably are inadequate to solve the state’s currentsupply crisis.
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INGAA Warns Of the Costs of Not Using Gas
The current framework of regulation and legislation may beinadequate to ensure there is 30 Tcf of gas demand in 2010 and thatcould have dire environmental and economic consequences, the INGAAFoundation said last week in releasing a new report titledImplications of Reduced Gas Use on Emissions from Power Generation.
Legislative Proposal Would Block CPUC Opening PX Competition
Riding the coattails of state budget legislation facing a June30 deadline, California lawmakers are making an end-run around thestate’s constitutionally quasi-independent energy regulatory panelwith an amendment to block regulators’ latest move to expandwholesale electricity competition in the state. It is a similarpattern to what the elected officials have done the past two yearsregarding natural gas industry issues.
Legislation Would Stifle PX Competition
Repeating what has become a familiar pattern in recent years,California’s legislature has begun the process of turning back thedecision made last week by state energy regulators to allow thestate’s major investor-owned utilities to purchase electricitythrough exchanges other than the state-chartered nonprofitCalifornia Power Exchange (Cal-PX). Legislative action could comeas early as today as part of California’s annual budget bill.
Mark-up of House Electric Bill Delayed
The odds of Congress passing electricity restructuringlegislation in this session were reduced to next to nothing as theHouse Commerce Committee—which has been beset by infighting—postponed the long-awaited mark-up that was scheduled for today.
CG&E Submits Electric Unbundling Plan
In accordance with Ohio’s electric industry competitionlegislation, Cinergy’s Cincinnati Gas & Electric Co. (CG&E)filed its transition plan with the Public Utilities Commission ofOhio (PUCO) yesterday. The plan extends a six-year rate freeze foranother six years, but also requests that the utility recover itsstranded costs through the frozen rates. Overall, the utility,which serves 650,000 electric customers in southwestern Ohio, saidthe plan would cause a $77 million reduction on residentialcustomers’ bills. The new law requires PUCO to rule on the plan byOctober 31.
House, Senate May Produce Electric Bills by Recess
Key pieces of comprehensive legislation aimed at restructuringthe electric industry could very well come out of both the Houseand the Senate before lawmakers leave for recess in early August,Capitol Hill observers say.
Congress May Produce Electric Bills by Recess
Key pieces of comprehensive legislation aimed at restructuringthe electric industry could very well come out of both the Houseand the Senate before lawmakers leave for recess in early August,Capitol Hill observers say.
Electric Restructuring Becomes Law in Texas
Texas Gov, George W. Bush Friday signed into law a bill torestructure the state’s $19 billion electric industry.
House Bill Seeks Relief for Small Producers
Several House lawmakers have endorsed legislation that isdesigned to provide “some real relief” to small oil and natural gasproducers that have been “so hard hit” by the historically lowcrude oil prices.