Although maligned and defined in various quarters by its “alphabet soup” approach to energy acronyms and detailed action plans, California needs to expand its return to comprehensive energy planning with something called “DRP,” dynamic resource planning, according to the chairman of the California Energy Commission (CEC), Joseph Desmond, speaking Monday at the opening session of the three-day national conference of the American Public Power Association (APPA) in Anaheim, CA.
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Trauma Hits Energy Merchants, Several Begin Major Financial Overhaul
The financial pressure cooker is on high, and energy companies caught in the soup are scrambling to avoid getting burned. Early last week the kitchen got too hot for Dynegy Corp.’s Chairman and CEO Chuck Watson, who after 17 years, was immediately replaced by a top ChevronTexaco executive. By week’s end, El Paso Corp. and Williams Cos. had begun drastic financial measures to cool the credit rating agencies and investors. CMS Energy Corp. also joined in, moving to catapult what remains of its exploration and production division (see related stories).
June 3, 2002
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