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This column has appeared in these pages since 1982. Here, as before, it offers a summary of results from major retail rate case decisions involving large investor-owned utilities, as issued [...]

The article offers the author's insights on the high-profile case brought by the U.S. Federal Energy Regulatory Commission (FERC) regarding the base-level return on equity (ROE) for network electric transmission service supplied in the non-profit regional transmission organization ISO New England. Topics discussed include the Discounted Cash Flow (DCF) Model for electric utilities, the risk face by firms which invest in electric transmission infrastructure, and the determination of ROE. INSET: HOW THE SURVEY WAS CONDUCTED.

ALLEGHENY + DQE. The Federal Energy Regulatory Commission has identified concerns about potential market power for the proposed merger between Allegheny Energy, Inc. and DQE, Inc., parent company of Duquesne [...]

Discusses the difficulty encountered by federal regulators regarding corporate diversification by public utilities. Case of the Public Service Co. of New Mexico; Utilities' search for ways to benefit from diversification; Other cases showing the strained nature of state commission authority over utility diversification.

Focuses on electric power competitive-bidding programs in the United States. Procurement of purchased power; Lack of flexibility in negotiating purchased-power contracts for utility companies; Focus on some competitive-bidding cases.

Reports on the approval by the Massachusetts Department of Public Utilities of a set of integrated resource planning procedures for regional investor-owned electric companies. Forecasts and evaluation of electricity demand and supply.

Reports that the market for short-term energy purchases by electric utilities is sufficiently competitive to obviate the need for structured solicitations by the state of Massachusetts' utilities, according to the Massachusetts Department of Public Utilities. Provisions of the integrated resource management (IRM) regulations; Utilities requesting for a waiver from the energy-only solicitation regulation.

Reports that the Oregon Public Utility Commission has adopted new guidelines for determining the cost-effectiveness of utility conservation programs.

Reports that new rules for regulatory scrutiny of electric utility promotional practices will not hamper energy conservation in Arkansas, according to the state's Public Service Commission. Approval of an exemption for rate tariffs reflecting variations in actual cost of service; Rate provisions that are not considered as promotional practices.

Reports on the North Carolina Utilities Commission's decision regarding emission-allowance inventory of North Carolina electric utilities. Recording of carrying charges; Compliance with Phase II of the federal acid rain reduction program.