the trend of encouraging settlement of disputes outside of agencies
and the courts, Order 888 also requires that all transmission
disputes between public utilities be subject to informal negotiation
and voluntary arbitration.
Wholesale Competition Through Open Access Non-Discriminatory
Transmission Services by Public Utilities, Docket No. RM95-8-000,
IV FERC Stats. & Regs. par. 33 085, 1995.
many companies that both provide transmission services and generate
power may voluntarily choose corporate unbundling in the new
with Order 888, Order 889's requirements can be waived by FERC
in extenuating circumstances.
Federal Regulatory Commission, Fact Sheet: Highlights of the
Open Access Proposal, 29 March 1995.
C. & Zuckerman G., "Changing world of utilities will
give bonds a new spin", Wall Street Journal, 16 June
1997. See also, "In regulatory landscape, electricity derivatives
may have bigger future", Daily Report for Executives,
11 June 1997.
example, after a 1994 surprise state utility commissioner's proposal
in California, three large utilities in the state lost over US$5
billion in market value. See, "Federal action on utility
restructuring should avoid harming stock, bond holders",
Daily Report for Executives, 23 May 1997.
"Markey to unveil retail choice measure; Bumpers fears Senate
will pass PUHCA bill", Daily Report for Executives,
5 June 1997.
HR655 requires retail competition in all states by 2001, Representative
Schaefer has indicated his willingness to consider a later date
to allow states time to implement competitive plans.
deregulated power be reliable?", Congressional Green
Sheets Weekly Bulletin, June 1997.
Regulatory Research Institute, Electric Industry Restructuring
Box Score, 30 April 1997.
ranked seventh out of the fifty states in 1993 in cost per kilowatt
hour for the industrial sector. See, Annual Electric Utility
Report, USDOE Energy Information Administration, January
write-downs of $800 million, PSNH says stranded cost policy will
sink New Hampshire giant", Electric Power Alert,
19 January 1997.
after very similar efforts, also failed to pass restructuring
legislation in 1997.
S.A., "A physicist's path: from multiperipheral models and
superlattices to the US Nuclear Regulatory Commission".
Address to the National Conference of Black Physics Students
at MIT, 28 February 1997, in NRC Office of Public Affairs,
no. S-97-05, 28 February 1997 (hereinafter 'Chairman's MIT Speech').
See also, Jackson S.A., "Nuclear energy and economic competition:
the NRC perspective". Keynote address to Nuclear Energy
Institute Fuel Cycle '97, Atlanta, 7 April 1997 (hereinafter
'Chairman's Atlanta Speech') (stating, 'it is important that
the NRC not be influenced in making safety regulatory decisions
by the need to lower the cost of operating a nuclear plant. [L]et
me reiterate that the NRC will continue to take seriously its
responsibility as a safety regulator').
also, Jackson S.A., "Economic deregulation of the electric
utility industry: ensuring nuclear safety in an era of changing
operational and financial perspectives". Keynote address
to Annual Meeting of Nuclear Electric Insurance, 17 June 1997,
in NRC Office of Public Affairs, no. S-97-16, 26 June
1997 (hereinafter 'Chairman's NEI Speech').
for example, Chairman's NEI Speech (stating, 'I firmly believe
that ensuring safety is in no way inconsistent with economic
deregulation and competition'); Chairman's Atlanta Speech (stating,
'my own view is that adequate protection of public health and
safety is entirely compatible with a deregulated environment,
provided economic restructuring of the electrical power industry
addresses what is necessary for that protection').
Western Systems Coordinating Council, reviewing the incidents,
listed several possible factors: high northwest transmission
loads; equipment out of service; inadequate maintenance of right-of-way;
operation in a condition in which a single failure would overload
parallel lines, triggering cascading outages; communication failures
to neighbouring utilities, prior to the disturbances; and the
lack of response to earlier events. See Chairman's NEI Speech.
CFR para 50.2.
NRC review of future PECO-Maine Yankee sale could plow new ground",
Inside NRC, 7 July 1997.
CFR para 50.33(f).
CFR para 50.33(f)(2).
CFR para 50.33(f)(3)(i-iii).
10 CFR para 50.33(f)(2).
Energy Services Claiborne Enrichment Center, 44 NRC 331, 1996.
Although the ASLB's decision dealt with licensing of enrichment
facilities under 10 CFR Part 70, the ASLB applied and interpreted
the rules governing reactor licensing under 10 CFR Part 50.
"re Louisiana Energy Services", LP 45 NRC 49, 1997
for example, Chairman's Atlanta Speech (stating, '[r]egulatory
changes might include eliminating any ambiguities in the NRC
definition of 'electricity utility', and taking account of alternative
methods of providing assurance of decommissioning funding
for example, pooled insurance, if available, or accelerated funding
of decommissioning'). See also, Jackson S.A., "Nuclear power
in a competitive era". Address to National Association of
Regulatory Utility Commissioners, Conference on Nuclear Energy
in Competitive Electricity Markets, Fort Myers, Florida, 23 January
1997, in NRC Office of Public Affairs, no. S-97-01, 23
January 1997 (hereinafter 'Chairman's Fort Myers Speech').
MIT Speech. See also, Jackson S.A., "Striving for equality
in a culturally diverse society". Address to Rensselaer
Polytechnic Institute, Troy, New York, 24 March 1997, in NRC
Office of Public Affairs, no. S-97-06, 24 March 1997.
Chairman's NEI Speech (stating, 'the NRC is developing objective,
meaningful, 'leading' performance indicators of nuclear plant
performance, as well as an enhanced approach for monitoring and
assessing licensee corrective actions'); Chairman's Atlanta Speech
(using essentially the same language to describe the NRC staff's
CFR para 50.75(e)(1)(i-iii).
CFR para 50.75(b) and (c).
CFR para 50.75(e)(3).
CFR para 50.75(e)(2).
Chairman's Fort Myers Speech (stating, 'Without being specific
about how nuclear 'stranded' assets should be addressed by state
public utility commissions or state legislatures, I will just
say it is important that our power reactor licensees continue
to have sufficient resources to operate and decommission their
plants safely'). See also, Chairman's Atlanta Speech (using essentially
identical language); Chairman's NEI Speech (same).
Rule on Financial Assurance Requirements for Decommissioning
Nuclear Power Reactors, SECY-97-102, 16 May 1997 (approved
by the NRC for publication on 30 June 1997).
CFR para 50.80(b), 50.33a, 50.22, 2.101(e) and 2.102(d); 42 USC
para 2135(c)(2), 1996 (stating, antitrust review by the Attorney
General 'shall not apply to an application for a license to operate
a utilization or production facility for which a construction
permit was issued under section 2133 of this title unless the
Commission determines such review is advisable on the ground
that significant changes in the licensee's activities or proposed
activities have occurred subsequent to the previous review by
the Attorney General and the Commission under this subsection
in connection with the construction permit for the facility').
USC para 2135(c)(8), 1996.
for example, Safety Evaluation by the Office of Nuclear Reactor
Regulation Related to the Indirect Transfers of Control of License
Nos. DPR-66 and NPF-73 for Beaver Valley Power Station,
Unit Nos. 1 and 2. Docket nos. 50-334 and 50-412, 19 June
42 USC para 2133(d); 10 CFR para 50.80(b) and 50.33(a)-(d).
Nuclear Regulatory Commission Staff and Industry Briefing to
the Commission, 24 April 1997.