How to measure hedging effectiveness and regulatory policy.
Hedging programs promise protection against energy-market price spikes, and they can be important to the regulatory goal of sustainable, lowest long-term service cost. But how much price protection is enough in natural-gas markets? What is the most efficient use of risk capital when hedging energy supplies?
(September 2007) DPL Inc. promoted Bryce Nickel to vice president of transmission and distribution operations. DPL also announced the promotion of Kevin Hall to director, transmission and distribution engineering. MDU Resources Group Inc. promoted Cynthia J. Norland, assistant vice president of administration, to vice president of administration. Portland General Electric Co. named Jay Dudley vice president, general counsel, and compliance officer. And others...
(August 2007) Avista Corp. announced that its board of directors elected Vice President Ann Wilson as vice president and treasurer, and Vice President Christy Burmeister-Smith will take over the post of vice president and controller. UniSource Energy shareholders voted to extend the service of its current board of directors. Sierra Pacific Resources elected Glenn C. Christenson to its board of directors. Pacific Gas and Electric Co. appointed John T. Conway site vice president of the Diablo Canyon Power Plant in San Luis Obispo County, Calif. And others...
(May 2007) The board of directors of Maine & Maritimes Corp. selected Brent M. Boyles to become the organization’s next president and CEO. Consumers Energy has named Bruce Rasher manager of renewable energy. FPL Group Inc. announced that Oliver D. Kingsley Jr. has been elected to the company’s board of directors. Pacific Gas and Electric Co. named Des Bell as utility chief of staff and vice president.
Promises of emissions-free power get the ball rolling, but unknowns remain.
After years of feasibility studies, lack of development funds, and escalating fuel costs across the energy spectrum, ocean energy is suddenly a very hot topic.
(April 2007) FPL Group Inc. announced that Toni Jennings was elected to the company’s board of directors. Sierra Pacific Resources announced that Michael W. Yackira was elected president and COO and a member of the company’s board of directors, and Brian J. Kennedy was elected to the company’s board of directors. The board of directors of PG&E Corp. elected Thomas B. King as the corporation’s president. Energy East Corp. announced that its board of directors promoted Richard R. Benson, Robert D. Kump and F. Michael McClain. And others...
A new law dampens coal-by-wire prospects.
A 2007 law essentially prohibits California utilities from signing long-term contracts for power, including those from out of state, unless they emit less than 1,000 pounds of CO2/MWh of electricity produced. While the law does not specifically bar coal-fired generation, the limit is set low enough to rule out all coal-power plants. A modern, highly efficient natural gas-fired plant barely would qualify. These measures, plus the new carbon-cap law going into effect by 2012, have sent utilities—large and small, private as well as municipal or city-owned—into a frenzy as they scramble to find alternatives to coal to meet their future demand.
Why competitive markets are scaring regulators.
If the underlying wholesale electricity markets from which supplies are procured are competitive, then the remaining concerns regarding price levels and volatility can be addressed through regulatory policies.
(October 2006) Kansas City Power & Light promoted Kevin Bryant to vice president of Energy Solutions. American Electric Power announced a series of executive reassignments as part of the company’s succession planning strategy. Pacific Gas and Electric Co. elected Bill Morrow as president and COO. Bob Drennan, a 23-year Progress Energy veteran, has been named vice president of investor relations. And others...
(September 2006) Pacific Gas and Electric Co. elected Bill Harper as vice president of strategic sourcing and operations support. Piedmont Natural Gas hired Judy Z. Mayo as deputy general counsel at Piedmont. ITC Holdings Corp. appointed Bennett Stewart to its board of directors. Cleco Corp. named Jeffrey W. Hall senior vice president, governmental affairs, and chief diversity officer. And others.