Rewriting the rules of energy

Congress passed the Comprehensive National Energy Policy Act on Oct 1, 1992. The law marked the beginning of a new era for the energy industry and it also would have a big influence on investor-owned electric utilities. Throughout the deliberation process, electric utilities disagreed with Congress on various provisions of the law. The issue of amending the Public Utility Holding Company Act of 1935 (PUHCA) was hotly debated. The new PUHCA allows the entry of exempt wholesale generators in electric power generation to spur competition.