Chair of Texas Utility Commission To Unveil Centerpiece of Energy Restructuring Plan at NEM Leadership Roundtable.

Business Editors

THE WOODLANDS, Texas--(BUSINESS WIRE)--Oct. 25, 2000

Governor Bush's Energy Restructuring Plan Encourages Price

Competition, Could Help Low Income Households the Most

On October 31, 2000, Pat Wood, Chairman of the Texas Public Utility will unveil the centerpiece of Texas' Energy Restructuring Plan before an Industry Leadership Roundtable hosted by the National Energy Marketers Association (NEM).

The Texas PUC is finalizing rules that would encourage competition to become the provider of last resort (POLR) for Texas utility customers.

Pat Wood will address industry experts meeting in The Woodlands to finalize recommendations for a "National Energy Technology Policy," said Craig Goodman, president of NEM.

"We are honored that Chairman Wood will unveil the centerpiece of the Texas restructuring plan at our Leadership Roundtable. Rules that implement the Provider of Last Resort determine whether customers have real choice and real price competition or whether monopolies will continue to supply competitive energy services at monopoly prices," said Goodman.

"Virtually every other industry that has deregulated has experienced an average price reduction of approximately forty-percent. Annual impacts on the U.S. economy associated with energy price competition range in the tens of billions of dollars per year. The impact on the U.S. economy could be equivalent to one of the largest tax reductions in history without the loss of a single dollar in government services. In fact, energy price competition could save state and federal governments billions of dollars per year. Importantly, energy prices (and energy taxes) are regressive. Therefore, competitive restructuring of the U.S. energy industry helps the poorest elements in Society and small businesses the most. This is precisely the type of bold leadership that Texas should take in the energy policy field," said Goodman.

The National Energy Marketers Association (NEM) is a national, non-profit trade association representing both wholesale and retail marketers of energy and energy-related services and technologies throughout the United States.

NEM's membership includes: small regional marketers, large international wholesale and retail energy suppliers, billing and metering firms, Internet energy providers, energy-related software developers, risk managers, energy brokerage firms, and information technology providers.

For information on the Industry Leadership Roundtable, or for copies of NEM's National Energy Technology Policy, contact NEM's Washington, DC headquarters at [phone] or www.energymarketers.com