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Frontlines

NRG's bankruptcy is challenging creditors' resolve to back merchants until power prices rebound.

NRG's bankruptcy is challenging creditors' resolve to back merchants until power prices rebound.

A common complaint in the last few months by would-be buyers of merchant assets has been that all the choice power plants have been pledged as collateral to commercial banks in order to stave off bankruptcy. That's why not many transactions have taken place, merchant asset buyers say, as everything else in the market isn't worth the price being offered.

Byline: 
Richard Stavros
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Emissions: Where Are the Traders?

Market fundamentals are driving NO<sub>X</sub> prices higher.


Market fundamentals are driving NOX prices higher.

Environmental compliance appears poised to become the biggest single driver of asset value for electric generators during the next five years.

While limits on sulfur dioxide (SO2) emissions have been achieved with relatively minor impact through the tradeable allowance program, permit systems in the future will become increasingly stringent. The NOX State Implementation Plan (SIP) Call represents just the first instance of this.

Byline: 
Steve Piper
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People

New Hires:

New Hires:

Progress Energy shareholders re-elected Edwin B. Borden, James E. Bostic Jr., David L. Burner, Richard L. Daugherty, and Richard A. Nunis as Class II directors of the company. They will serve three-year terms.

Maryland Gov. Robert L. Erlich Jr. named state delegate Kenneth D. Schisler chairman of the Maryland Public Service Commission. Schisler succeeds Catherine I. Riley.

Byline: 
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Frontlines

The United States must turn overseas for natural gas supplies, in spite of worries about energy independence.

Byline: 
Richard Stavros
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California Experiment: Dynamic Pricing for the Mass Market

Will the state launch a full-scale rollout of dynamic tariffs?


Will the state launch a full-scale rollout of dynamic tariffs?

A pilot program in California is putting dynamic pricing and advanced metering to the test.

The California Public Utilities Commission (CPUC) approved a Statewide Pricing Pilot (SPP) in March,1 at a cost of approximately $10 million, including metering, project planning, management, evaluation, and concurrent market research on non-pilot participants focused on customer preferences for rate options.2

The SPP has the following objectives:

Byline: 
Ahmad Faruqui and Stephen S. George
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