Georgia Commissioner Stan Wise says he is very unhappy with the decision by the Federal Communications Commission (FCC) to require states to deaverage the cost of providing telephone service for companies that want to compete with the regional Bell operating carriers, such as BellSouth.
(The U.S. Court of Appeals for the Eighth Circuit enjoined some aspects of the FCC rules on October 15. See, Courts and Commission, In Brief, p.
Public Utilities Fortnightly asked eight commissioners about the demands of restructuring and about an issue particular to their state.
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Comments by P.
Imagine That!
A Stock-price Premium for DSMA rise in DSM spending (as a percentage of total expenditures) indicated
an increase in market-to-book ratio.
For electric utilities, financial and managerial attributes such as rate of return or the dividend payout ratio often exert a strong positive effect on the market-to-book (M/B) ratio (em the ratio of the company's stock price divided by book value.
Philipp Degens and M. Khawaja
a decommissioning trust suffers the same vulnerabilities.
Sound bites from state and federal regulators.
Telco Interconnection Rules. Federal appeals court enjoins pricing aspect of rules published August 8 by the Federal Communications Commission to govern sale at wholesale of local exchange service elements by Bell system local carriers to new competitors (who would resell such elements to provide competitive local telephone services). Finds possibility of irreparable harm plus likelihood that Bell carriers might prevail on the merits of jurisdictional issues. No. 96-3406, Oct. 15, 1996 (8th Cir.).
a fortunate few, opening up competitive options even
in advance
of 1998.With a fountain pen and a flourish of promises, California Gov.
The Massachusetts Department of Public Utilities (DPU) has again turned down a request by a cogeneration developer (QF) to collect capacity payments for the entire 20-year term of a purchased-power contract with Commonwealth Electric (CE), despite conflicting advice from the state supreme court.
Last year, in remanding a similar DPU ruling, the Massachusetts Supreme Court had suggested that a contract price violates the Public Utility Regulatory Policies Act (PURPA) if it does not include any capacity payments for most of its term.
Early on in the debate, the legislature had signaled the commission that it would need the blessing of lawmakers to pursue its agenda.This past August, during the waning days of a two-year session, the California Legislature unanimously passed a landmark bill to deregulate the state's $23-billion electric utility industry.
The new law, known as "Assembly Bill (AB) 1890, largely reaffirms the broad outlines of the December 1995 Final Policy Decision issued b
The U.S.
Stranded-
Cost
Recovery: All FERC'ed Up
By Michael T. Maloney, Robert E.
McCormick, and Chad A. McGowan
The "lost-revenues" approach in Order 888 ignores the fact that cash flow drives
asset valuation . . .
. . . the key to measuring uneconomic investment.
