-----Original Message-----
From: Zimmer, Michael J [mailto:Michael.J.Zimmer@BAKERNET.com]
Sent: Wednesday, November 14, 2001 3:11 PM
Subject: E-Notes: Utility Bankruptcy Issues in a Deregulated Environment


>  <<...OLE_Obj...>> 
> E-Notes provides regular briefings on new developments in global energy
> and public utility law.
> 
> 
> November 14, 2001
> 
> 
> UTILITY BANKRUPTCY ISSUES IN A DEREGULATED ENVIRONMENT
> 
> 
> Utility bankruptcies have been a rare occurrence because electric power
> has been a heavily regulated industry.  There have been three electric
> investor-owned utility bankruptcies since the Depression:  Public Service
> Company of New Hampshire, El Paso Electric Company, and recently, Pacific
> Gas & Electric Company.  There have been several other bankruptcy filings
> by Cajun Electric Power Cooperative, Inc., Big Rivers Electric Corp.,
> Colorado-Ute Electric Association, Inc., Eastern Maine Electric
> Cooperative, Inc., and Wabash Valley Power Association.  Tucson Electric
> Power also was subject to an involuntary bankruptcy petition filing.
> However, as the march of deregulation continues, electric utilities'
> exposure to risk (in counter-party arrangements and corporate guarantees),
> multiple jurisdictional regulatory review, and cross border transactions,
> may increase the likelihood of utility bankruptcies.
> 
> A recent presentation prepared for the prestigious annual Regulatory
> Policy Conference of The Institute of Public Utilities is provided for
> your reference and use.
> 
> 
> Michael J. Zimmer
> Roger M. Gibian
> 
>  <<Utility Bankruptcy Paper.pdf>>  <<Attachment B (Utility Bankruptcy
> Paper).pdf>> 
> 
> __________________________________________________________________________
> __
> E-Notes is a publication of Baker & McKenzie.  It does not constitute
> legal advice or a legal opinion on any specific facts or circumstances.
> The contents are intended as general information only.  You are urged to
> consult your attorney concerning your situation and specific legal
> questions you may have.  For further information on the subjects discussed
> in E-Notes, contact Michael J. Zimmer,
> mailto:michael.j.zimmer@bakernet.com or
> Jonathan W. Gottlieb, mailto:jonathan.w.gottlieb@bakernet.com.
> 
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> utility practice, click on our electronic business card:
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