The Michigan Public Service Commission (PSC) has authorized Michigan Consolidated Gas Co., a natural gas local distribution company (LDC), to enter into a special contract permitting KMart Corp. to aggregate its warehouse with its retail locations to qualify for transportation service at all sites.
The U.S. Court of Appeals for the Ninth Circuit has ruled that natural gas local distribution companies (LDCs) in California are no longer immune from antitrust actions caused by their activities in the natural gas vehicle (NGV) industry. The decision clears the way for a federal district court to hear a complaint lodged against Southern California Gas, a local distribution company (LDC), by two California corporations engaged in the NGV refueling business.
As directed by the state legislature, the New Hampshire Public Utilities Commission (PUC) has issued a preliminary plan to restructure the state's electric industry.
Sound bites from state and federal regulators.
Storm Damage Costs. Hawaii rejects proposal by electric utility for statewide surcharge to recover hurricane damage costs. Says that "regulatory compact" requires utility to quickly repair damage and restore service to consumers in return for recovery of all prudently incurred costs. Dkt. No. 94-0097, Aug. 7, 1996.
Gas-supply Incentives. Missouri increases LDC's rates by $9.5 million.
Annual Annual EPS
Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last
Company Region 06/28/96 09/30/96 Change High Low Rate Yield Value Ratio 12 Mos.Electric Utilities
AEP Company Inc. Midwest 42.63 40.63 -4.69 44.75 35.13 2.40 5.91 22.68 13 3.10
Unicom Corp.
The Federal Energy Regulatory Commission (FERC) has announced two policy changes in its first final order on negotiated rates under its policy statement on Alternatives to Traditional Cost-of-Service Ratemaking. The FERC will now require pipelines to file either negotiated rate contracts or tariff sheets that reflect the essential elements of their negotiated rate agreements. In addition, pipelines will no longer be permitted discounted adjustments to their recourse rates.
The case involved NorAm Gas Transmission Co. (Docket No. RP96-200-001).
The Federal Energy Regulatory Commission (FERC) has conditionally approved market-based power-sales rates for Plum Street Energy Marketing, Inc., an affiliate of Niagara Mohawk Power Corp. (NMP) (Docket No. ER96-2525-000). It also set for hearing the issue of whether transmission constraints result in market dominance by NMP or its affiliate.
Plum Street's application to market and broker electric power states that it would not market power to NMP unless so authorized by the FERC.
According to Chadbourne & Park, LLP, the Internal Revenue Service (IRS) is auditing U.S. companies that bought shares in foreign utilities in recent privatizations to determine whether they should have paid U.S. taxes.
All of the transactions involve debt-equity swaps, which can take many forms. For example, a U.S. company interested in buying shares in a foreign utility first goes into the market to buy bonds of the foreign government.
(R-TX) on the last day of the 104th Congress introduced legislation, H.R. 4297, "The Consumers Electric Power Act," to bring competition to the nation's electric industry.
but outsourcers could be cutting in.Wholesale competition and the prospect of competitive retailing are leading many electric utilities to turn their distribution activities into discrete business units. But the emergence of the "DisCo" as a distinct entity may only mark the first step in a more radical disaggregation.
Why the distribution business may see radical change isn't immediately apparent.