Arizona Public Service Co. has filed a lawsuit in the Superior Court of Maricopa County to challenge rules adopted by the Arizona Corporation Commission in December 1996 to open the state's electric industry to competition over a four-year period starting in 1999.
John L. Carter was elected to Tucson Electric Power Co.'s board of directors. He replaces J. Burgess Winter, who resigned. Carter recently retired as executive v.p. and CFO of Burr-Brown Corp.
Madison Gas and Electric Co. promoted Terry A. Hanson to v.p. and treasurer. Hanson, who joined the company in 1981, had been treasurer.
Connecticut Natural Gas Corp. promoted two executives and hired a third.
The Arizona Corporation Commission has turned down a bid by Tucson Electric Power Co.
When the Salt River Project (SRP) held a series of focus groups in 1994, one participant said he related to our products and services, and felt he received good value for his monthly payments. Unfortunately, a few questions later, we discovered that he did not live in our service area, his bill was higher than he thought, and he wasn't particularly pleased after all.
We were more than a little taken aback.
The staff of the Arizona Corporation Commission have recommended rejection of a Tucson Electric Power Co. (TEP) proposal to form a holding company, with TEP becoming a wholly-owned subsidiary. The proposal reflects TEP's desire to pursue opportunities in the domestic and international power markets, including development of independent power projects, acquisition of interests in existing power facilities privatized by foreign governments, and construction of cogeneration facilities to serve the energy needs of large industrial customers.
"It could have been worse."
"It says to the market, `It won't be so bad.' It will take longer now, so that's better for the utilities."
"It creates a new bureaucratic entity that will make regulatory choices."
"It's regulated deregulation. It's alarming if that's the prototype for the nation."
That's the word, respectively, from Barry Abramson at Prudential Securities, Edward J. Tirello, Jr. of NatWest Securities, Steven Fetter at Fitch Investors Service, and Dan Scotto of Bear Stearns.
Sithe/Independence Power Partners, L.P., an independent power producer (IPP), has filed a petition at the Federal Energy Regulatory Commission (FERC) alleging that Niagara Mohawk Power Corp. (NMP) has been overcharging for electric transmission. Sithe believes NMP has been calculating transmission losses on an incremental basis; FERC policy requires that transmission losses be calculated on an average basis.
In the United States, the Federal Energy Regulatory Commission (FERC) has undertaken the task of guiding the electric power industry from regulation to competition. But unless the FERC develops a plan to consider all facets of electric deregulation at the same time, we may end up driving on the wrong side of the road.
Last October the FERC issued its policy statement on electric transmission pricing. See, Inquiry Concern. Pricing Policy for Trans. Servs.