Structural

John Guy, deputy secretary of the National Petroleum Council (NPC), said agency members plan to have discussions with several economists who claim to have found flaws in projected consumer savings and in the model used in the NPC’s massive natural gas study, which was released last fall. But Guy said the NPC is unlikely to take any action if serious problems in the report are uncovered.

Duke Energy’s new president and COO, Fred Fowler, wasted no time in beginning a structural reorganization of Duke management to help the company weather the industry’s financial and credit crisis and restore investor confidence (see Daily GPI, Nov. 26). Harvey Padewer, former group president of Energy Services, and Jim Donnell, former president and CEO of Duke Energy North America (DENA), both resigned last week.

Duke Energy’s new president and COO, Fred Fowler, wasted no time in beginning a structural reorganization of Duke management to help the company weather the industry’s financial and credit crisis and restore investor confidence (see Daily GPI, Nov. 26). Harvey Padewer, former group president of Energy Services, and Jim Donnell, former president and CEO of Duke Energy North America (DENA), both resigned. Other key organizational and management changes were made in the company’s Energy Services and Gas Transmission businesses. Duke shares were down 7% Wednesday to $19.70.

“The new market structure is broken and must be discarded,” saidEdison International Chairman John E. Bryson yesterday, in astatement warning that his company soon will be “compelled to takedrastic measures,” including “rationing” electricity. He called fora return to regulation, where needed.