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33 News: Periodic Rep. Members Sec. Pub. Util. Comm. & Transp. L. A.B.A. 1 (1992-1993)

handle is hein.journals/infrastr33 and id is 1 raw text is: AD E TO OF PU -Lt UT LT , C FM N A OS . AND.. S R A I. LIAS Nientfli t' of Ii of f'ii1fli IOI I l -OL A33, NO. 1I FALL t 1992 President Signs Energy Policy Act Law Reforms Holding Company Act, Grants Transmission Access to IPPs and Electrics On October 24, 1992, President Bush signed into law the National Energy Policy Act of 1992, including amendments to the Public Utility Holding Company Act of 1935 (PUHCA). The Energy Act heralds a new era for the electric utility business. Among other points, it allows an electric utility to own or operate an independent power project without becoming a public utility holding company, as defined by PUHCA. Thus, utilities can acquire IPPs without obtaining a PUHCA exemption from the Securities and Exchange Commission. Moreover, the act elimi- nates regulatory constraints in PUHCA for two classes: (1) registered holding companies who acquire an interest in an IPP, and (2) any other company that might acquire interests in more than one IPP. N Exempt Wholesale Generators. The PUHCA ex- emption extends to electric generating facilities that produce power exclusively for wholesale, and to foreign IPPs even if engaged in retail sales. * Qualifying Facilities. The Energy Act also contains implications for qualifying cogeneration and small power pro- duction facilities (QFs) that enjoy special regulation under the Public Utility Regulatory Policies Act of 1978 (PURPA). The new Energy Act states that control of EWGs will not cause the owner to be considered (under PURPA) as a company primarily engaged in the generation or sale of electric power. Thus, under the Energy Act, electric utilities (and others) that own EWGs can also acquire a majority equity stake in a QF. * Transmission Access. The Energy Act also grants additional authority to the FERC to mandate transmission access for electric generators, including IPPs, EWGs, and QFs. In setting rates for transmission service under the new Energy Act, the FERC must permit recovery of all legitimate and verifiable economic costs associated with the transmission service. Fall Council Meeting T he Section's Fall Council Meeting was held in Naples, Florida on October 15-18, 1992, and fea- tured a symposium on the future of deregulation in the electric, gas, telecommunications, airline, and railroad industries. Heading the list of program speakers was Peter Huber, the engineer-turned-lawyer (Ph.D., Massachu- setts Institute of Technology; J.D., Harvard Law School) who has written widely on the interplay between law, economics, and technology. Section members can read his candid remarks in this issue (see page 2), along with other speaker presentations on utilities and deregulation. The symposium at the Fall Council Meeting brought together other views as well, with speakers covering deregulation topics running the gamut from antitrust to labor to administrative law, to name a few. Readers should look for these and similar features in upcoming newsletter issues. Fall Deregulation Symposium Highlights from Speakr Presentations at the Section's 1992 Fall Council Meeting Communications and Beyond * The Electric View Railroad Deregulation

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