(September 2005) Top honors in our first annual financial ranking go to those staying with the basics and to those dealing with soaring commodity prices.

Ten years after the initial Notice of Proposed Rulemaking that set in motion the establishment of RTOs, it is hard to dispute that the mature organized markets with independent management of the grid have achieved tangible benefits for all customers. It is important to remind ourselves of the accomplishments and challenges ahead.

What's wrong the Public Utility Holding Company Act of 1935 (PUHCA)? The 1935 act clearly did not contemplate a competitive marketplace for electricity. Legislation should be updated to reflect the prevailing energy economic climate.

At times, various conditions align and set the stage for achieving goals that may have appeared to be unreachable. Last summer, the Boston Red Sox were all but eliminated from contention, but then won an amazing stretch of baseball games that resulted in a World Series championship.

A similar scenario can be applied to the U.S. nuclear industry-producer of a steady, low-cost, environmentally important electricity source poised to thrive with the possibility of new plant construction in the not-so-distant future.

Perspective

How the filed-rate policy wreaks havoc- and what courts can do about it.

Like many venerable legal rules, the filed-rate doctrine is rarely questioned. Over the last century, it has served many important purposes. However, with deregulated wholesale electric power markets at the federal level and various degrees of deregulation across the states, both the doctrine's continued applicability and usefulness are suspect.

Perspective

Congress should not impose a federal renewable portfolio standard (RPS).

Since 1978, the federal government has relied on tax incentives to promote the generation of electric power from renewable resources-"green" power from hydroelectric facilities and windmills, solar panels and photovoltaic cells, facilities that burn biomass, municipal waste and landfill gas, and geothermal and ocean thermal resources.

The treacherous journey toward a more efficient and transparent Northwest power market may be nearing its conclusion.

Steve Wright stands at the helm of an agency with a seemingly impossible task. As CEO and administrator of the Bonneville Power Administration (BPA), Wright must serve a broad spectrum of interests, from aluminum smelters to sockeye salmon. And no matter what he or anyone does, it's impossible to make them all happy at the same time.

Commission Watch

CPUC questioned historic oversight authority.

To guarantee the continued growth of liquefied natural gas (LNG) importation and use in the United States, the energy industry needs to pay close attention to govern the regulation, siting, and operation of LNG import terminals-issues traditionally overseen by the federal government.

Frontlines

Utilities have little to show for the millions they pay in campaign contributions.

If Donald Trump could call Congress on the carpet, he would send lawmakers packing with those two now infamous words, "You're fired!"

Trump, at the conclusion of each episode of his reality TV show "The Apprentice," dumps an unlucky job candidate for failing to complete that show's business assignment to his liking.