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BUSINESS
September 26, 1992 | MICHAEL PARRISH, TIMES STAFF WRITER
In a move closely observed in Southern California, the Chicago Board of Trade was chosen by the government Friday to run the world's first exchange in pollution credits. CBOT will deal in federal allowances for utilities to emit sulfur dioxide--which causes acid rain--in a plan to cut emissions in half by the year 2000. These rights can be purchased by utilities that might find buying them more cost-effective than spending money directly to reduce their own emissions.
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NEWS
May 11, 2001 | RONALD BROWNSTEIN, TIMES POLITICAL WRITER
Amid their looming conflicts on energy policy, President Bush and his critics appear to have reached agreement on an unlikely point: Neither side is preparing to ask for significant sacrifices from the public to respond to rising prices and squeezed supplies. In the energy policy blueprint it will release next week, the administration is expected to present enhanced production as the key to easing the energy crunch.
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NEWS
February 19, 2001 | RICHARD SIMON, TIMES STAFF WRITER
Within days, Congress will launch a debate that could lead to the most thorough overhaul of U.S. energy policy since the oil shortages and price spikes of the 1970s. Spurred by California's power problems and lesser energy shocks in other parts of the country, lawmakers of both parties say momentum is growing to consider a wide range of legislative remedies.
NEWS
April 14, 2001 | ROBERT L. JACKSON, TIMES STAFF WRITER
The Bush administration proposed new efficiency standards Friday for home central air conditioners and heat pumps that officials said would conserve energy and ensure savings in electricity bills. The standards, to take effect in 2006, would require the new devices to use 20% less energy than most current models. As such, the rules are less stringent than those proposed in the final days of the Clinton administration, which called for a 30% reduction.
BUSINESS
August 16, 1995 | From Associated Press
Americans turned up their air conditioners during July's heat wave, boosting utility output and helping fuel the first advance in industrial production in five months despite weak factory production. But although the manufacturing sector remained soft, many analysts contended that its recent decline appears to be ending. "When we look back in January at all of 1995, we will find July the last weak number," said economist Eugene Sherman of M.A. Shapiro & Co. in New York.
BUSINESS
March 30, 1995 | MICHAEL PARRISH, TIMES STAFF WRITER
The nationwide march to electric deregulation took a major step forward Wednesday when federal regulators unveiled their plan to clear away one of the biggest obstacles to competition: how to get the power from seller to buyer.
NEWS
March 12, 1992 | THOMAS W. LIPPMAN, THE WASHINGTON POST
The House Energy and Commerce Committee on Wednesday approved a far-reaching energy bill that would revolutionize the nation's electric utility industry, increase federal support of alternative fuels and renewable energy sources and require oil companies to provide oil for the nation's Strategic Petroleum Reserve. The bill would get the Energy Department out of the troubled uranium-enrichment business.
BUSINESS
December 24, 1991 | From Reuters
Americans' incomes shrank last month as layoffs mounted, but rising expenses pushed up spending and curtailed savings, the Commerce Department reported Monday. Personal income fell 0.1% from October to a seasonally adjusted annual rate of $4.88 trillion--the first time income has dropped since July, when it fell 0.3%. Consumer spending rose a surprising 0.7% to a seasonally adjusted annual rate of $3.95 trillion.
NEWS
February 6, 1989
The Energy Department has been pressing utilities to fortify their defenses against sabotage since a National Security Council study found a growing danger of terrorist attack on domestic power sources. The Associated Press learned of the report, released to Congress in 1987, which said that "energy-related terrorism . . . would be a particularly significant threat" in the event of a military crisis with the Soviet Union, but that ". . .
BUSINESS
July 21, 1989 | From Associated Press
Talk of looming power shortages and brownouts around the country has many people worrying about the problems those circumstances might cause. But some financial analysts and stock-market investors are also looking into who might stand to benefit, acting on the time-honored Wall Street precept that every crisis contains an opportunity. The electric power situation hasn't yet reached crisis proportions.
BUSINESS
April 9, 2001 | JAMES FLANIGAN
For all the agony and anger about energy in California, compounded now by the bankruptcy filing of Pacific Gas & Electric, deregulation and the transformation of the electric power industry is moving forward nationwide--and worldwide. Many electric companies elsewhere are thriving and being recommended by investment analysts even as the regulated utility division of PG&E Corp.
NEWS
February 19, 2001 | RICHARD SIMON, TIMES STAFF WRITER
Within days, Congress will launch a debate that could lead to the most thorough overhaul of U.S. energy policy since the oil shortages and price spikes of the 1970s. Spurred by California's power problems and lesser energy shocks in other parts of the country, lawmakers of both parties say momentum is growing to consider a wide range of legislative remedies.
BUSINESS
December 8, 1998 | From Reuters
Scottish Power, aiming to become the first foreign company to buy a major U.S. utility, said Monday it agreed to pay about $7.8 billion in stock for PacifiCorp. The deal, which values Portland, Ore.-based PacifiCorp at about $12.8 billion including the assumption of about $4.9 billion in debt, comes amid rapid consolidation in an industry being deregulated around the world. It also follows PacifiCorp's own failed bid to acquire a British utility, Energy Group, earlier this year.
BUSINESS
December 5, 1998 | Bloomberg News
Scottish Power, a British electric, natural gas and telephone utility, is close to an agreement to acquire PacifiCorp for $7 billion to $8 billion, in what would be the first takeover of a U.S. utility by a foreign company, the Financial Times reported. Such a deal would have to overcome a U.S. law that forbids foreign ownership of a utility company. The newspaper didn't cite sources. Portland, Ore.
CALIFORNIA | LOCAL
November 18, 1997 | JON STEINMAN, SPECIAL TO THE TIMES
When the deregulated power market finally arrives next year, will consumers choose to pay more for electricity from clean, renewable sources? That is a question confronting environmentalists, utility company managers and state legislators who are all preparing for deregulation and the uncertainties that are expected to accompany the coming free market.
BUSINESS
February 5, 1997 | JAMES FLANIGAN
"In the new world of deregulation, you have to be a factor outside of your area because that's a way of surviving in your area," says William Louis-Dreyfus, the head of Duke/Louis Dreyfus, the joint venture firm that Tuesday became a partner of Los Angeles Department of Water & Power.
BUSINESS
January 12, 1989 | DAVID G. SAVAGE, Times Staff Writer
The Supreme Court, in a victory for consumers and state regulators, ruled Wednesday that a utility has no constitutional right to pass along to ratepayers the cost of canceled nuclear power plants. The justices, on an 8-1 vote, gave states broad leeway to set utility rates so long as power companies are not deprived of a reasonable return when all of their investments are taken into account.
BUSINESS
October 12, 1989 | TOM REDBURN, TIMES STAFF WRITER
The House Ways and Means Committee on Wednesday refused to prod the nation's utility companies into paying customers about $19 billion in refunds over the next few years. Consumers are owed an average of more than $200 each, but will have to wait up to 30 years for refunds from gas, electric and telephone companies. "This shows how powerful the utilities are in Congress," said Rep. Robert T.
BUSINESS
August 14, 1996 | PATRICK LEE, TIMES STAFF WRITER
The stresses on the West's complex system of power lines promise to worsen as the electric industry deregulates, and this summer's rapid-fire, regionwide blackouts have public officials exploring what it will take to ensure the grid's reliability. The easy answer is to spend more money--for sophisticated new devices to increase the capacity of existing power lines and to improve their stability so they don't automatically shut down.
BUSINESS
August 7, 1996 | CHRIS KRAUL, TIMES STAFF WRITER
Time was when utilities were the very personification of local industry--private-public entities whose reason for existence was to distribute power to local folks and businesses. Then they began to expand into powerful regional and even national forces. Now, driven by deregulation and slow growth in power consumption at home, California's huge utilities are moving overseas.
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