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Enron Mail |
To: AGA Member Company General Counsel
Re: Legal Update We'd like to update you on recent developments that may be of interest to you: President Bush Releases His Energy Plan: On May 17, President Bush took a large step towards addressing the nation's growing imbalance between energy supply and demand by issuing a comprehensive report on national energy policy. The 150+ page report contains 105 specific recommendations with respect to all forms of energy, including natural gas, coal, oil, nuclear and renewable energy sources. It is unknown at this time how Senator Jeffords (VT) announcing on May 23rd a switch to independent will affect energy legislation. A number of proposals directly affect natural gas, including: * Increase funding for LIHEAP to $1.7 billion annually * Funnel some oil and gas royalty payments to LIHEAP when oil and natural gas prices exceed a certain level * Streamline pipeline permitting processes * Improve pipeline safety and reliability * Provide tax incentives and streamlined permitting for Combined Heat and Power * Establish an interagency task force under the Council on Environmental Quality to coordinate federal agencies in expediting permits and guide federal, state and local coordination for energy projects * Direct federal agencies to prepare Energy Impact Statements for proposed actions * Open a portion of ANWR for exploration and production * Double funding for DOE's Weatherization Assistance Program * Increase coordination with Canada and Mexico with regard to energy investment and infrastructure permitting Important items not included in the White House plan are tax incentives for natural gas exploration and production, natural gas transmission and distribution infrastructure, natural gas vehicles and a mandate for total energy efficiency. See attachment for side-by-side analysis. Also see www.aga.org <http://www.aga.org/<; for additional information. Alliance for Energy and Economic Growth Increases in Size and Influence: During the last few weeks, more than 200 local chambers of commerce, major trade organizations and other energy customer representatives have joined the Alliance for Energy and Economic Growth. The 400+ member Alliance is building consensus for a comprehensive U.S. energy strategy that balances supply and demand without compromising environmental safeguards. Recently during a Washington, D.C., speech, AGA's Dave Parker described that consumer education about energy issues will play a vital role in mobilizing public support behind a balanced approach in Congress. More material is posted on www.yourenergyfuture.org. Senate Banking Committee Approves Bill to Repeal PUHCA: On April 24, the Senate Banking Committee approved by a 19-1 vote a bill (S.206) to repeal the original 1935 PUHCA. The committee also approved three amendments. The first would establish a five-member task force to study competition in the wholesale and retail electricity market. The second would continue FERC's role in requiring "reasonable" utility rates. It would also continue to prohibit utility companies from using profits from regulated activities to fund unregulated activities. The third amendment would direct the General Accounting Office to study the efforts of state and federal regulators in preventing anticompetitive practices by holding companies. The bill would transfer oversight of public utility holding companies from the Securities and Exchange Commission to FERC. A similar bill, HR 1101, has been introduced in the House. Pipeline Safety, the Focus of DOT and AGA Meeting: On May 22, AGA chairman Nick Rose and AGA's Dave Parker met with Secretary of Transportation Norman Mineta and discussed a wide range of pipeline safety issues, including the importance of the enactment of balanced legislation. We will provide more information on pipeline safety legislation at the Legal Forum Gramm-Leach-Bliley Act, Pub. L. 106-102: By July 1, 2001 all "financial institutions" that collect non-public personal information from consumer customers must examine their information collection and sharing practices and have a "privacy policy" that notifies those customers of their distribution of that information. The regulations broadly define "financial institutions" to include entities that are "significantly engaged," inter alia, in lending, insuring and guaranteeing. Such activities may include providing financing or warranty service. Regulated entities must provide their customers with the policy and, under certain circumstances, the ability to opt-out or prevent the entities from distributing the information. The law does not require that all customers receive the privacy policy - it only applies to those customers that receive the benefit of the financial activities. Most activity by an LDC does not subject the company to the Act. However, providing appliance financing or warranty service may require compliance. The law, regulations and sample privacy policies can be found at www.ftc.gov/privacy/index <http://www.ftc.gov/privacy/index<; . * * * * * **************************************************************************** *********** Don't miss this year's AGA Legal Forum in Monterey, California on July 16-17, 2001. Some of the above issues and other issues of vital importance to member company general counsel will be discussed in detail during the Forum. For registration information, please contact Theresa Thoman at (202) 824-7072 or <mailto:tthoman@aga.org< tthoman@aga.org . For more information about anything in this Legal Update, please contact AGA General Counsel Kevin Belford (at 202/824-7070 or <mailto:kbelford@aga.org< kbelford@aga.org), AGA Deputy General Counsel Mike Murray (at 202/824-7071 or <mailto:jstephens@aga.org< mmurray@aga.org) or Senior Staff Associate Theresa Thoman (at 202/824-7072 or <mailto:tthoman@aga.org< tthoman@aga.org ) If you have trouble viewing this e-mail or the attachment, please contact Theresa Thoman and she will send you a fax version of this Legal Update and/or the attachment. - analysis.doc
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