Reuters
Energy Bill would repeal 1935 utility merger law
Sat Jan 31 12:46:25 2004
65.146.120.4

WASHINGTON, Jan 8 (Reuters) - Congress' proposed repeal of a Depression-era law limiting U.S. utility mergers could open the door for big oil companies to own more electric generation plants, industry experts said.

A wide-sweeping energy bill stalled in the U.S. Senate would repeal the Public Utilities Holding Company Act (PUHCA) of 1935. PUHCA is a trust-busting measure meant to prevent a utility from becoming too dominant within a geographic region…

"A single company could acquire every generator in the U.S., and (federal energy regulators) could do nothing about it," Sen. Jeff Bingaman, a New Mexico Democrat, said on the Senate floor last year…

I think we should let FirstEnergy buy up all the other utilities because they did such a good job of shutting down the whole Northeast and part of Canada last year. Then they can hire Ken Lay as their CEO, to bring us those great higher prices that we all need and want. Kennyboy is down to his last hundred million, forcing his wife to open a second-hand store to sell some of their belongings. He needs the money, friends.

• Recusal Scalia re Cheney?` - White House Energy Task Force — FINDLAW, Sat Jan 31 17:07