At the end of May, Consumers Power Co. issued a press release that caught my eye. In four short paragraphs, the company said it had filed an application with the state public service commission (PSC) seeking approval of a private power-supply contract with James River Corp. Consumers Power ranks James River as its 23rd largest industrial electric customer.
The term "parachute payment" includes "any payment in the nature of compensation to . . . a disqualified individual . . .
For purposes of this section, an individual is a disqualified individual . . . if . . . the individual is an employee or independent contractor of the corporation and is
a) A shareholder [More than $1 million or one percent of fair market value]
b) An officer, or
c) A highly compensated individual
. . . .
The term 'officer' implies continuity of service. ...
R & D for
a Competitive Power Industry
The secret lies in gaining exclusive-use rights to protect your product or process from your competitors.
The electric utility industry is inherently a high-technology business. Those who ignore this fact for long will fall behind (em not only in using the technology, but also in contending against their higher-tech competitors.
Gas restructuring didn't end with Order 636, it just outran the regulators. Now the rules come from the downstream dealmakers.
Gas restructuring didn't end with Order 636, it just outran the regulators. Now the rules come from the downstream dealmakers.
APPA Director Alan Richardson will fight
toe-to-toe with well-heeled
adversaries. If he were a boxer, his name might be Alan "The Right" Richardson.
The executive director of the American Public Power Association (APPA) always toes the canvas, swinging for equity for his 1,750 members, shadowing its "heavyweight" adversaries, investor-owned electric utilities (IOUs).
As FERC moves forward, most state legislators have remained content to sit back and wait for others to act. Part of this reticence stems from politics—the difficulty of changing course, invading someone else's turf, or tackling a new subject outside one's area of expertise. Legislators view problems differently than do regulators.
Lawmakers see different imperatives than regulators or industry execs, such as protecting the tax base for the local community.
Long-distance telephone rates for U.S. businesses dropped 7.9 percent from February 1995 to February 1996, according to the International Telecommunications Price Survey, released by National Utility Service, Inc. on April 16. At the same time, local calling rates decreased by only 1.5 percent.
Regulators in Minnesota and Pennsylvania have approved electric service tariffs with real-time pricing (RTP). In Minnesota, the PUC directed Otter Tail Power Co. to offer large-volume customers: 1) a customer-specific baseline load priced at a standard rate, with deviations priced hourly at the spot market, reflecting a profit margin plus marginal operating and outage costs; and 2) a simplified offer that eliminates the baseline calculation, increases fixed charges, and bills all energy use at the real-time incremental rate.
The Idaho Public Utilities Commission (PUC) has reversed a series of earlier rulings and has now allowed U S WEST Communications, Inc. to sell certain rural telephone exchanges to small independent local telephone carriers. Putting aside prior concerns that excessive sales prices would impose higher rates, the PUC found that projections of the ratio of purchase price to net book value had been overstated. It said the ratio had improved with recent increases in plant investment, as well as from a plan by U S WEST to contribute funds to replace switches in the sale exchanges.
The Wisconsin Public Service Commission (PSC) has completed its mandated annual review under a price-cap plan elected in 1994 by Wisconsin Bell, Inc., saying the company must reduce rates for intraLATA message telecommunications service (MTS) under the price-cap formula.