Fortnightly Magazine - July 1 1997

Bush Bill To Open Power Markets in Texas Dies

Texas Gov. George Bush's (R) unexpected electric restructuring legislation that would have opened markets to competition in the state on Sept. 1, 2001 has died. The proposal would have slashed residential rates by 10 percent in the next three years, frozen industrial rates until 2001, and cut small-business rates by 4 percent.

The Bush plan, released on May 5, would have guaranteed that utilities would recover all stranded investment in generation plants at market rates of return.

Byline:

Lori A. Burkhart

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Parties Push DOE for Answers

In response to an April 30 federal court order, parties suing the Department of Energy over nuclear waste storage have asked the court to require DOE to submit a detailed description within 30 days of its plan to begin removing radioactive waste from nuclear power plants.

Parties to the suit (em numbering 103 (em on May 7 also asked the court for permission to escrow more than $600 million in annual payments into the fund.