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Rick, I attach a copy of a report the regulatory group prepared for John=20
Sherriff on EPower's projects.=20 The conclusions reached are consistent with our initial estimates. EPower h= as=20 adopted best case scenario timelines for their projects. The likely scenari= o=20 is that unless there are significant and immediate changes to the current= =20 regime for power plant development in Japan, EPower's greenfields projects= =20 may not come on line before 2011. The brownfields sites avoid some of the p= re=20 development issues, but in other respects are no less problematic. The paper sets out 9 possible steps to assist EPower to reduce the time and= =20 costs associated with the approval process and transmission access. The first is one previously mentioned - leverage existing relationships=20 within METI, with local Governors and within senior levels of the LDP to fo= rm=20 a central organization with responsibility for coordinating and streamlinin= g=20 the regulatory process for new entrants. We would anticipate that the centr= al=20 organization would have delegated representatives in local METI branches an= d=20 prefectural governments. Others include lobbying for equal status for independent power projects und= er=20 the Electricity Law and looking at the possibility of inviting utilities to= =20 participate as project equity partners in some or all of EPower=01,s projec= ts. kind regards
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