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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (132617)11/2/2001 7:43:58 PM
From: Les H  Read Replies (1) of 436258
 
A panel of utility experts said this week that organizational changes brought about by electricity restructuring could pose a serious financial risk to the viability of utilities around the United States. At a meeting on the future of electricity restructuring held in Williamsburg, VA, experts predicted that the nationwide move toward restructuring could produce utility bankruptcies similar to Pacific Gas & Electric's recent Chapter 11 reorganization filing in California. Attorney Mike Zimmer of Baker and McKenzie stated, "As the march toward deregulation continues, the risk of bankruptcy is enhanced." He added that once in bankruptcy, utilities often struggle to maintain a focus on serving customers. California analyst Eric Woychik said bankruptcy can be avoided by balancing the expectations of market rules with more diverse governance. Eric Miller, Director of the Office of Markets, Tariffs, and Rates at the Federal Energy Regulatory Commission (FERC), said FERC is also concerned about the bankruptcy issue and is using real-time market monitoring that is "clear, concise, and transparent" to ensure that all regulators and utilities have immediate access to information about the market's behavior.
EnergyWashington.com Today, November 1, 2001

eren.doe.gov
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