|
|
Enron Mail |
---------------------- Forwarded by Carla Hoffman/PDX/ECT on 12/06/2000 06:05
AM --------------------------- Enron Capital & Trade Resources Corp. From: "Pergher, Gunther" <Gunther.Pergher@dowjones.com< 12/05/2000 06:12 AM To: undisclosed-recipients:; cc: Subject: DJ Calif Sen Introduces Bill To Change ISO, CalPX Board 13:16 GMT 5 December 2000 DJ Calif Sen Introduces Bill To Change ISO, CalPX Board (This article was originally published Monday) LOS ANGELES (Dow Jones)--California State Senator Debra Bowen, D-Redondo Beach, introduced a bill Monday at the senate's new session that, if approved, would replace the governing boards of the state's Independent System Operator and Power Exchange with a governor-appointed three-member independent board. In addition, Senate President Pro-Tem John Burton said he will introduce legislation that would require power suppliers to register with the state before doing business here and report all wholesale electricity sales and bids to the state. The CalPX governing board consists of 28 members and the ISO has 29. The senate bill, backed by Senate President Pro-Tem John Burton, seeks to eliminate a conflict of interest that currently exists on the boards because its members are made up of individuals from utilities and generations companies. Lawmakers said the companies represented by members of the boards benefit from high wholesale electricity prices and therefore they are unable to make objective decisions that represent the interests of California's consumers. The energy stakeholder boards were created as a result of the state's 1996 landmark deregulation law and was seen as an entity that could counsel the operation of the ISO and CalPX while the state moved toward a fully deregulated market. The ISO manages the high-voltage transmission system and real-time power market. The CalPX is the market where electricity is bought and sold. The bill will go through a 30-day waiting period at the democratic-majority senate before it is discussed in early January, but it must be passed by the senate and state assembly before it can be signed into law by the governor. If signed into law by the governor, the bill "would prohibit a member of the independent governing board appointed by the governor from being affiliated with any actual or potential participant in any market administered by the (ISO or CalPX)," according to a copy of the Bowen Bill. Electricity is proving to be the hottest topic of the new legislative session, said Lawrence Lingbloom, consultant on Sen. Bowen's Energy, Utilities and Communications Committee. In addition to the Bowen Bill, legislation was also introduced that would require the state's three investor-owned utilities, Edison International unit (EIX) Southern California Edison, PG&E Corp. unit (PCG) Pacific Gas & Electric, and Sempra Energy unit (SRE) San Diego Gas & Electric Co., to buy a majority of their electricity needs in advance in the forward market, in order to protect consumers from volatile spot markets. -By Jason Leopold, Dow Jones Newswires; 323-658-3874; jason.leopold@dowjones.com (END) Dow Jones Newswires 05-12-00 1316GMT Copyright © 2000, Dow Jones & Company Inc G_nther A. Pergher Senior Analyst Dow Jones & Company Inc. Tel. 609.520.7067 Fax. 609.452.3531 The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
|