In a new report that previews what to expect with the advent ofretail competition in the electric industry, the Texas PublicUtility Commission submitted its findings to the state’slegislature last week. Explaining the problems “some areas of thecountry,” had with deregulation, PUC reported it is convinced thatTexas’ rules will benefit the economy and “bring vibrantcompetition.”
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More Utilities Implementing E-business Plans
North American utility companies continue to move ahead withe-business plans, despite the recent upheaval in the Internetindustry and the volatility of the energy market, according to astudy by Chartwell, a researcher based in Atlanta.
Rate Increases Salvage CA Utilities from Brink of Bankruptcy
Reluctantly and in the face of extraordinary pressure fromfinancial, utility and public officials, California regulatorsThursday took initial steps to unfreeze retail electricity ratesfor the state’s two largest investor owned utilities (IOUs) tobegin to cut into the $8 billion of debt dragging down the IOUssince mid-year. An unprecedented lobbying and public communicationseffort by the utilities preceded the action.
Energy Industry Facing Mega Changes, Says Exec
The coming decade promises to reveal a different utilityindustry than the one today, which already is bursting around theedges from the speed-of-light changes, according to Victor A. Burk,a managing partner in Arthur Andersen’s energy and utilitiesindustry sector. Burk offered what he termed his “megatrends” athis company’s energy symposium last week in Houston.
Energy Industry Facing Mega Changes, Says Exec
The coming decade promises to reveal a different utilityindustry than the one today, which already is bursting around theedges from the speed-of-light changes, according to Victor A. Burk,a managing partner in Arthur Andersen’s energy and utilitiesindustry sector. Burk offered what he termed his “megatrends” athis company’s energy symposium this week in Houston.
Sierra Pacific Merger Receives OK From OR
Saying that the merger was in the best interest of the public, theOregon Public Utility Commission yesterday approved Sierra PacificResources’ application to acquire Portland General Electric(PGE). Sierra Pacific last year announced it would acquire PGE, awholly owned subsidiary of Enron Corp. for $2.1 billion, excludingdebt (see Daily GPI, Nov. 9, 1999).
TNPC’s New Power Company Readies for Retail
In its quest to become the first nationally branded utility in the United States, TNPC Inc. – an alliance of Enron Corp., America Online and IBM – said that its initial public offering of 24 million common shares at $21 per share would net the company nearly $473 million to intensify its retail marketing efforts and build a customer base. The offering closes Wednesday.
TNPC’s New Power Company Readies for Retail
In its quest to become the first nationally branded utility inthe United States, TNPC Inc. — an alliance of Enron Corp.,America Online and IBM — said yesterday that its initial publicoffering of 24 million common shares at $21 per share would net thecompany nearly $473 million to intensify its retail marketingefforts and build a customer base.
Edison Charges Gas Market Manipulation
Southern California Edison filed a motion late last week withthe California Public Utility Commission seeking emergency relieffrom high spot gas prices on which its power purchase rates arebased. The company told the CPUC that Southern California Border(Topock, AZ) prices in the last month have risen by $2.50/MMBtupossibly because of market manipulation, in particular thewithholding off of the market of pipeline transportation capacitybetween the supply basins and the California border.
NiSource-Columbia Merger Gains Approvals; Columbia Results Strong
The NiSource-Columbia merger has gotten past two more hurdles on its way toward completion. The Pennsylvania Public Utility Commission (PUC) unanimously approved the merger, leaving Virginia as the only state left out of the nine yet to approve it (see NGI, July. 10).