One simple line in the recent Energy Policy Act sets the stage for broader geographical ownership by current utilities and easier ownership from outside industries. Readers know very well that one line calls for the repeal of the depression-era Public Utility Holding Company Act, and many pundits have stated that a wave of mergers and acquisition activity is now imminent.
The new chairman discusses the meaning of the Energy Policy Act of 2005.
The wide-ranging Energy Policy Act of 2005, signed into law by President Bush Aug. 8, already is affecting the energy industry—and guaranteeing that FERC will be a very busy agency. Fortnightly asked FERC Chairman Joseph T. Kelliher what the future holds for the commission.
How Exelon uses its human resources department as a strategic weapon.
What sort of leadership does today's utility need for the future? How does the culture need to change? Who should be hired from within the industry? Who should be hired from outside the industry? Exelon has sought to answer all of these questions, using human resources as a strategic advantage.
Which is the best energy company?
(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.
(September 2005) The Consolidated Edison Inc. board of directors elected Kevin Burke as a member. Great River Energy named Greg Ridderbusch vice president, business development and strategy. Millennium Pipeline named Dick Leehr as president. And others...
Why integration may win out in the long run.
In the electric power industry, the urge to merge has gained a new lease on life. These combinations are witness to the powerful forces of consolidation let loose when deregulation makes consolidation a preferred tactic in an uncertain world. But to what extent will government policy encourage or resist this trend? What exactly is the regulatory environment that nurtures combinations or, for that matter, supports fragmentation? As we shall see, there are many cross-currents.
Infrastructure isn't keeping pace. So how to "help" the market without killing it?
What's the right price signal to bring forth enough infrastructure to maintain reliability over the long haul? Moreover, if such a model exists, can it work without stifling competitive markets?
What's behind today's oddball mergers?
Look at the gargantuan, gerrymandered service territories you would get with the latest pending merger deals: Exelon-PSEG, Duke-Cinergy, and Warren Buffet's bid to combine PacifiCorp with his MidAmerican Energy. Now ask yourself if they make any sense.
Which utilities and states will be most affected by the new rules?
The SEC denies approval of the AEP/CSW merger. What will that mean for industry consolidation?
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.