Stir

After causing quite a stir in 2005 with his unsuccessful attempt to open up the Virginia coastline to natural gas drilling, state Sen. Frank Wagner (R-VA) introduced energy legislation in the opening days of the General Assembly last week that is more comprehensive in scope than his energy measure that was debated by state lawmakers last year.

After causing quite a stir last year with his unsuccessful attempt to open up the Virginia coastline to natural gas drilling, state Sen. Frank Wagner (R-VA) is planning to introduce energy legislation Tuesday that is more comprehensive in scope than his energy measure that was debated in the General Assembly last year.

Even though the Federal Energy Regulatory Commission has direct authority to impose its proposed “code of conduct” only on pipelines and LDCs and their affiliates by attaching it to blanket sales certificates, the California Public Utilities Commission (CPUC) believes “this is a sufficiently large group of sellers of natural gas to warrant adoption of the rules…since many of the affiliates of interstate pipelines or LDCs are among the largest natural gas marketers in the nation” (RM03-10).

Even though the Federal Energy Regulatory Commission only has direct authority to impose its proposed “code of conduct” on pipelines and LDCs and their affiliates by attaching it to blanket sales certificates, the California Public Utilities Commission (CPUC) believes “this is a sufficiently large group of sellers of natural gas to warrant adoption of the rules…since many of the affiliates of interstate pipelines or LDCs are among the largest natural gas marketers in the nation” (RM03-10).

Despite taking its massive utility into Chapter 11 bankruptcy proceedings last year, PG&E Corp. reported Wednesday it handed out $4.68 million in bonuses to 11 top corporate and utility senior executives, along with $13.5 million in restricted stock, as rewards for performances resulting in $1.1 billion in profits last year. The disclosure was part of a filing to the Securities and Exchange Commission, prompting strong criticism from consumer groups.

Despite taking its massive utility into Chapter 11 bankruptcy proceedings last year, PG&E Corp. reported Wednesday it handed out $4.68 million in bonuses to 11 top corporate and utility senior executives, along with $13.5 million in restricted stock, as rewards for performances resulting in $1.1 billion in profits last year. The disclosure was part of a filing to the Securities and Exchange Commission, prompting strong criticism from consumer groups.

When former Enron de Mexico President Max Yzaguirre was appointed to chair the Texas Public Utilities Commission (PUC) last June, critics charged that his affiliation with his former employer would cause a conflict of interest. Now that Enron Corp. has declared bankruptcy, Yzaguirre’s appointment has come under even more fire, with Texas Gov. Rick Perry’s office in the middle of another controversy.

When former Enron de Mexico President Max Yzaguirre was appointed to chair the Texas Public Utilities Commission (PUC) last June (see Daily GPI, June 15, 2001), critics charged that his affiliation with his former employer would cause a conflict of interest. Now that Enron Corp. has declared bankruptcy, Yzaguirre’s appointment has come under even more fire, with Texas Gov. Rick Perry’s office in the middle of another controversy.

It caused a political stir, but nary a megawatt changed Tuesday when California energy-buying officials turned over to the state controller seven more power contracts that cover supplies this summer. State Controller Kathleen Connell Monday expressed concerns that the state’s much-publicized long-term contracting was going to be woefully short this summer, causing billions of more dollars to be needed for spot market purchases.