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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Fulton, Donna </O=ENRON/OU=NA/CN=RECIPIENTS/CN=DFULTON< X-To: Nicolay, Christi L. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Cnicola<, Taylor, Mark E (Legal) </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mtaylo1< X-cc: X-bcc: X-Folder: \MTAYLO1 (Non-Privileged)\Taylor, Mark E (Legal)\Inbox X-Origin: Taylor-M X-FileName: MTAYLO1 (Non-Privileged).pst -----Original Message----- From: Zimmer, Michael J [mailto:Michael.J.Zimmer@BAKERNET.com] Sent: Wednesday, November 14, 2001 3:11 PM Subject: E-Notes: Utility Bankruptcy Issues in a Deregulated Environment < <<...OLE_Obj...<< < E-Notes provides regular briefings on new developments in global energy < and public utility law. < < < November 14, 2001 < < < UTILITY BANKRUPTCY ISSUES IN A DEREGULATED ENVIRONMENT < < < Utility bankruptcies have been a rare occurrence because electric power < has been a heavily regulated industry. There have been three electric < investor-owned utility bankruptcies since the Depression: Public Service < Company of New Hampshire, El Paso Electric Company, and recently, Pacific < Gas & Electric Company. There have been several other bankruptcy filings < by Cajun Electric Power Cooperative, Inc., Big Rivers Electric Corp., < Colorado-Ute Electric Association, Inc., Eastern Maine Electric < Cooperative, Inc., and Wabash Valley Power Association. Tucson Electric < Power also was subject to an involuntary bankruptcy petition filing. < However, as the march of deregulation continues, electric utilities' < exposure to risk (in counter-party arrangements and corporate guarantees), < multiple jurisdictional regulatory review, and cross border transactions, < may increase the likelihood of utility bankruptcies. < < A recent presentation prepared for the prestigious annual Regulatory < Policy Conference of The Institute of Public Utilities is provided for < your reference and use. < < < Michael J. Zimmer < Roger M. Gibian < < <<Utility Bankruptcy Paper.pdf<< <<Attachment B (Utility Bankruptcy < Paper).pdf<< < < __________________________________________________________________________ < __ < E-Notes is a publication of Baker & McKenzie. It does not constitute < legal advice or a legal opinion on any specific facts or circumstances. < The contents are intended as general information only. You are urged to < consult your attorney concerning your situation and specific legal < questions you may have. For further information on the subjects discussed < in E-Notes, contact Michael J. Zimmer, < mailto:michael.j.zimmer@bakernet.com or < Jonathan W. Gottlieb, mailto:jonathan.w.gottlieb@bakernet.com. < < For more information about BAKER & McKENZIE and our global energy and < utility practice, click on our electronic business card: < <<...OLE_Obj...<< < < or visit our website at <http://www.bakerinfo.com/Practice < Areas/nabfmp/energy/!viewme.htm< . < < <
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