Energy Daily Conf. International Lessons

Subject: UFTO Note — Energy Daily Conf. International Lessons
Date: Thu, 15 May 1997
From: Ed Beardsworth

Energy Daily is holding a conference on “Lessons” from deregulation experiences in other countries. My own view is that there’s been far too little attention paid to to what’s been learned overseas, except perhaps for the UK (which may not be a very relevant situation!), so this is a welcome sign.

They’ve just posted this conference on their web site…

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| ** UFTO ** Edward Beardsworth ** Consultant
| 951 Lincoln Ave. tel 415-328-5670
| Palo Alto CA 94301-3041 fax 415-328-5675
| http://www.ufto.com edbeards@ufto.com
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http://www.kingpublishing.com/F-17.html

June 24-25,
International Power Deregulation: Lessons and Implications for U.S. Utilities,
Washington, D.C.

Is there life after deregulation?

Well, of course there is. But what is the nature of that life? To this point, deregulation of U.S. electric utilities has been almost an academic exercise. The unanswerable question, so far, is how it would really work. Will generation really be a boring, vanilla business? And transmission, an exciting, profitable business? Nobody really knows. It is all speculation. But we do know that nothing goes the way it is planned and that the most daring futurists are wrong.

The Energy Daily, in its desire to answer some of these questions. has joined forces with the international consulting firm of Putnam, Hayes & Bartlett (PHB) to peer into the future with the guidance of those who have already been there. Many countries have already restructured–New Zealand, and Argentina, for example. They have very real, hands-on stories to tell and often those stories are at odds with what is anticipated for the U.S. PHB has consulted with utilities around the globe and, together with The Energy Daily, has assembled an imposing panel of experts on life after regulation for a special conference on “International Power Deregulation: Lessons and Implications for U.S. Utilities” scheduled for June 24-25, 1997 in Washington, DC.

The Economist magazine recently compiled a disturbing list of infrastructure investments over time that had gone wrong, sometimes from ignorance and sometimes from political intervention. But, it concluded, at this point in history, with growth rates in many target countries around 10 percent, it would be foolish for international companies to stay out of the infrastructure boom. Be careful and know what you are doing, The Economist concluded.

There is now a convergence between the international experience in electric industry restructuring and deregulation in the U.S. Great fortunes may be made, or lost, in the American electric utility industry after deregulation, as they will be around the globe. The concepts discussed in “International Power Deregulation” may well save American utilities hundreds of millions of dollars by helping them avoid repeating the mistakes that others have made and paid for. I am looking forward to seeing you at this most critical meeting with the gifted and knowledgeable experts from around the globe.
Agenda

DAY ONE, TUESDAY, JUNE 24, 1997

9:00 am “Welcome and Introduction”
Llewellyn King, Publisher, The Energy Daily (Co-Chair)

9:15 am “International Overview”
Howard W. Pifer III, Chairman, Putnam, Hayes & Bartlett (Co-Chair)

10:15 am “Restructuring Assets: Functional Unbundling, Divestiture, and
Acquisition”
Moderator: Fred Baird, Managing Director, Putnam Hayes Bartlett Asia-Pacific, Ltd.

Speakers:
John Rowe, President & Chief Executive Officer, New England Electric System (US)
Robert W. Thomson, Chief Executive, Trans Power New Zealand Ltd. (New Zealand)
David Jones, Group Chief Executive, National Grid Company (UK)
Joseph P. Kearney, President & Chief Executive Officer, US Generating Company (US)

12:15 pm Luncheon and Address: “The View from Wall Street”
Charles A. Trabandt, Chairman, Strategic Advisory Services, Merrill Lynch

1:45 pm “Reasons for Restructuring: Politics, Ideology, and the Need for New Capacity”
Moderator: Brian Caine, Director, Ernst & Young (Canada)

Speakers:
Peter Grenier, Secretary of Energy (Brazil)
Brian Pomeroy, Partner, Touche Ross, (UK)
Alfredo Mirkin, Secretary of Energy (Argentina)
William Farlinger, CEO, Ontario Hydro (Canada)
Jamie Wimberly, Vice President, Consumer Energy Council of America Research Foundation

4:00 pm “Market Structures to Implement Restructuring: ISOs, Poolcos, & Power Exchanges”
Moderator: Larry E. Ruff, Managing Director, Putnam Hayes & Bartlett

Speakers:
Graeme L. Dillon, Chief Executive Officer, Victoria Power Exchange (Australia)
Cesar W. de Faria, Director, President, Copelmi Mineracao(Brazil)
Eileen Marshall, Director of Regulation, Ofgas (UK)
Shmuel Oren, Professor, University of California, Berkeley (US)
Jan Moen, Director of Regulation and DSM, Norwegian Water Resources & Energy

6:30 pm Reception, Dinner and Address: Hosted by Putnam, Hayes & Bartlett

Hon. James E. Schlesinger, Senior Advisor, Lehman Brothers

DAY TWO, TUESDAY, JUNE 25, 1997

8:00 am “Control or Restructuring: Problems of Federal versus State Jurisdiction”
Moderator: William H. Hieronymus, Managing Director, Putnam, Hayes & Bartlett

Speakers:
Pierre Lederer, Senior Vice President & Head, General Economic Studies, Electricite de France (France)
Javier Herrero, Managing Director, Iberdrola (Spain) *
Richard O’Neill, Director, Office of Economic Policy, Federal Energy Regulatory Commission (US)
Robert Gee, Commissioner, Texas Public Utilities Commission and Chairman, NARUC Electricity Committee

10:15 am “New Competition and Emerging Markets: Developing Viable Strategies”
Moderator: James M. Speyer, Managing Director, Putnam, Hayes & Bartlett

Speakers:
Richard C. Green, Jr., Chairman & Chief Executive Officer, UtiliCorp. United Inc. (US)
Stephen Snyder, President & Chief Operating Officer, TransAlta Utilities (Canada)
Lee W. Hogan, President, & Chief Executive Officer, Retail Energy Group, Houston Industries, Inc. (US)
A Representative of National Power (US) *

12:15 pm Luncheon and Address: “International Experiences and Domestic Problems”
Llewellyn King (Co-Chair)

1:45 pm “Drawing Conclusions”
William W. Hogan, Professor, John F. Kennedy School of Government, Harvard University

2:45 pm “Wrap-Up Session and Adjournment”
Howard Pifer III (Co-Chair)
Howard W. Pifer (Co-Chair)

Adjourn

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