CEOs of Leading Energy and Technology Companies to Forge Consensus on Restructuring Priorities for 2002.Business Editors WASHINGTON--(BUSINESS WIRE)--Jan. 9, 2002 Executive Committee of National Energy Marketers Association Prioritizes Wholesale, Retail and Technology Issues for 2002 The Executive Committee of the National Energy Marketers Association (NEM) will meet in Houston on January 17 to forge a consensus on federal legislation, wholesale, retail and technology issues and will be addressed by Texas PUC (Public Utility Commission) A regulatory body in every state in the U.S. that governs public utilities within its jurisdiction such as electricity, gas, oil, sewer, water, transportation and telephone service. Some states call it the Public Service Commission (PSC). Commissioner Brett Perlman. "Given the recent developments in both the wholesale and retail markets as well as the events surrounding Enron, 2002 will be a crucial year for the restructuring of U.S. energy markets. Commissions in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Illinois, and Michigan are implementing important new rules this year, and both Texas and Virginia have just opened widely to competition," said Craig Goodman, president of NEM. "The first half of 2002 will focus heavily on restructuring wholesale energy markets to be more liquid, transparent and competitively neutral," said Clem Palevich, chairman of the NEM Executive Committee and president of AES New Energy. Major issues affecting the wholesale energy market on the agenda will include recommendations for competitive standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. market designs, and support for a wholesale electric standards board proposal. Additionally, NEM leaders will develop workable definitions of market power, economic withholding, energy affiliates, and rules for generation interconnection in·ter·con·nect v. in·ter·con·nect·ed, in·ter·con·nect·ing, in·ter·con·nects v.intr. To be connected with each other: The two buildings interconnect. v.tr. . "Importantly, there will be major changes in credit and risk management. Given all of the recent attention generated by Enron, risk identification and valuation will be a major issue to be resolved this year," said Palevich. "2002 will also be pivotal in the development of competitive retail energy markets," said Goodman. "A number of important states will be unbundling A regulatory requirement that enables a competing service provider to purchase parts of the incumbent local exchange carrier's network in order to provide service to its customers. See ILEC. utility rates using embedded Inserted into. See embedded system. costs to offer consumers credits on utility bills to shop for competitive services. I am confident that competitive suppliers can beat the utility's embedded costs and provide consumers with meaningful price competition and better services and technologies. If commissions stay the course on embedded cost unbundling, this year will also be a major step forward for competitive billing, metering and related information services See Information Systems. ," said Goodman. NEM represents both wholesale and retail energy marketers as well as suppliers of energy-related products, services, information and technologies throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . For a copy of NEM's 2002 Issue List call 202/333-3288 or visit www.energymarketers.com |
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