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Fortnightly Magazine - June 1 1996

The Feds Can Lead...By Getting Out of the Way

Stranded investment is mostly intrastate.

Let the states work free of uncertainty.

Recent activity in both chambers of the U. S. Congress shows federal lawmakers seeking to help the electric industry move toward competition. More than likely, election-year politics will stand in the way. Even so, Congress can go one better: It can step aside and let the states lead the way.

The greatest concern lies in stranded costs (em utility assets and obligations valued on company books at above-market levels.

Byline: 
Steven M. Fetter
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Off Peak

April 23, 1996

On behalf of our members, we want to express our continuing appreciation for the leadership you and your colleagues are showing in seeking enactment of S. 1317, a bill to repeal the Public Utility Holding Company Act of 1935, while assuring appropriate consumer and investor protection. As you know, the '35 Act imposes duplicative, unnecessary, and burdensome requirements that are outdated and do not reflect current circumstances in the gas and electric utility industry.

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