Regulation
Bush urges TVA to modify debt estimates
The Bush administration last month said it intends to propose legislation that will require the Tennessee Valley Authority (TVA), the largest public power producer in the US, to count its lease-leaseback deals as debt.
Upwardly mobile
As energy prices creep upward, many factors are driving the markets. The upward trend and increased volatility is continuing as the markets evolve and mature. But are these markets operating efficiently and accurately, or are they being manipulated, as…
University of California adds four to Enron lawsuit
The University of California continues to add plaintiffs to its lawsuit against Enron. RBC, Goldman Sachs and two law firms are now facing the university’s wrath. By Paul Lyon
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch’s energy trading business. He has now pleaded guilty to a $43 million fraud. Paul Lyon reports
Nuclear stockpile
The US Nuclear Regulatory Commission has come under fire for not adequately monitoring the decommissioning funds of nuclear power plants. But the NRC says the criticism is unwarranted. By Paul Lyon
Modernisingprice reporting
Recent investigations have seriously affected the voluntary reporting of energy price data. Now, the market is ready to move on. Edison Electric Institute’s Richard McMahon gives his organisation’s views on the future operation of indexes
Protection treaty
Matthew Saunders , of law firm DLA, introduces the bilateral investment treaty which, though often overlooked, can be an effective method of affording legal protection for energy investments and minimising energy project risk
US Senate rejects energyderivatives legislation
Energy traders applauded the Senate’s decision in November to veto proposed legislation that would place stricter controls on derivatives trading. By Paul Lyon
Energy bill enters into Senate
The US energy bill was presented to Congress in late November. But while it contains a wide range of provisions, ranging from tax incentives to improvements in reliability, critics say the bill still needs work. Joe Marsh reports
Open for business
The Russian government has taken the first steps toward the deregulation of its gas and power markets, and despite recent the high-profile Yukos scandal, investors are eyeing up some interesting opportunities. By Paul Lyon
Contract killing
The California Public Utilities Commission wants to renegotiate long-term contractsthe Department of Water Resources entered into during the state’s energycrisis. So far, Ferc has been less than receptive to the request. By Paul Lyon
Degreasing palms
The United Nations is likely to ratify extensive anti-corruption legislation in December. But recent scandals at energy giants Elf and Statoil highlight the difficulties in stamping out bribery and corruption. By Joe Marsh
Bound by the rules
In his last day in office, Governor Gray Davis announced the Californian energy crisis was over. Revelations from indicted traders, and the punishments doled out to them, will have a profound effect on how the market moves forward. By Catherine…
Searching for sellers in 2003
High volatility and rising prices in 2003 clearly above fundamental levels signal the need for improved guidelines from legislative institutions andeasily accessible information
Arnie’s energy plan faces opposition
Californian governor-elect Arnold Schwarzenegger is facing stiff opposition and awkward questions over his energy deregulation plans. In particular, one consumer group is concerned about the implications of his meeting with formerEnron chairman Ken Lay…
Running late
Compliance with the new International Financial Reporting Standards is likely to have a big effect on the volatility of oil, natural gas and utility companies’ reported earnings. Yet the sector has been slow to implement the IASB standards, finds James…
Eyeing the pricing
US energy regulators are keeping an ever-more-watchful eye on gas and power price reporting – but are they finally flexing their muscles appropriately? Paul Lyon reports
Energy firms face “crunch time” for accounting compliance
Professional services firm PricewaterhouseCoopers (PwC) says time is running out for energy and utility companies to get to grips with the pending implementation of the International Financial Reporting Standards (IFRS).