GPU Energy Concerns Will Not Alter Company's Support For Plan To Restructure New Jersey Electric Power Industry.MORRISTOWN, N.J.--(BUSINESS WIRE)--Feb. 4, 1997--In testimony at public hearings today in Newark, GPU GPU: see secret police. (Graphics Processing Unit) A specialized logic chip devoted to rendering 2D or 3D images. Display adapters contain one or more GPUs for fast graphics rendering. Energy vice president of corporate affairs for New Jersey, Elizabeth Ard, voiced support for the Board of Public Utilities' recommendations to restructure the state's electric power industry, but said however, the company has some concerns. "We believe this plan needs clarification in order to adequately address the issue of stranded costs, especially pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to non-utility generation contracts," said Ard. "We also have questions regarding the appropriate application of securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. as a method for recovery of stranded costs. "Our concerns do not alter our support of this plan, nor do they present insurmountable obstacles to achieve the board's primary objectives." Ard said GPU Energy's concerns were to be expected given the enormity e·nor·mi·ty n. pl. e·nor·mi·ties 1. The quality of passing all moral bounds; excessive wickedness or outrageousness. 2. A monstrous offense or evil; an outrage. 3. of the proposed changes and the broad spectrum of stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. involved. Ard also said GPU Energy has been an enthusiastic player in the move to deregulate deregulate To reduce or eliminate control. One of the major forces in the financial markets in the 1970s and 1980s was the federal government's decision to deregulate interest rates. New Jersey's electric power industry and is prepared for competition. "We realize that competition will dramatically change the way we operate. We also recognize that we will need to make bold changes to meet the demands of a competitive world. We are prepared to meet the challenge and continue to be a leader in the industry." CONTACT: GPU Energy Ron Morano, 201/644-4297 |
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