tailieunhanh - CORPORATE AFTERSHOCK 1 PHẦN 9

Tổng công ty Enron đã không thất bại bởi vì tham gia vào thị trường điện bán buôn và bán lẻ. Nhưng như Neves cũng lưu ý trong Chương 4, thị trường điện thường được xem như là đặc biệt bởi vì các vấn đề về độ tin cậy xung quanh việc cung cấp bán buôn điện cho các tiện ích công cộng và thành phố với một nghĩa vụ phục vụ khách hàng bán lẻ và bán điện trực tiếp cho khách hàng bán lẻ thông qua một hỗn chuyển dịch cơ cấu nhà nước, . | 5 REGULATION OF WHOLESALE ELECTRICITY TRADING AFTER ENRON Andrea S. Kramer Paul J. Pantano Jr. and Doron F. Ezickson As explained in Chapters 1 and 4 Enron Corporation did not fail because of its participation in wholesale and retail electricity markets. But as Neves also noted in Chapter 4 electricity markets are typically viewed as special because of the reliability issues that surround the provision of wholesale power to public utilities and municipalities with an obligation to serve retail customers as well as to sell power directly to retail customer through a hodgepodge of state restructuring direct access and fixed retail price regulatory efforts. Not surprisingly with the disclosure of questionable wholesale electricity trading practices by Enron regulatory and legislative investigations and litigation have intensified focusing on the propriety of wholesale electricity prices in California and the western United States in 2000 and 2001. At this same time the Federal Energy Regulatory Commission FERC and Congress are also considering reforms to the operation and oversight of wholesale electricity markets. While anticompetitive conduct must be investigated and penalized we believe that the continued regulatory uncertainty caused by inconsistent legal standards governing wholesale trading practices poses a substantial risk to the viability of the developing wholesale and retail competitive electricity markets in the United States. Regulatory reform efforts must have as a primary goal the clarification of Copyright 2002 Andrea S. Kramer Paul J. Pantano Jr. and Doron F. Ezickson. All rights reserved. 106 REGULATION OF WHOLESALE ELECTRICITY TRADING 107 the legal standards by which wholesale electricity trading conduct will be judged. While the recent FERC staff investigation report into Enron s trading conduct suggests that the FERC is trying to establish clearer standards more definitive steps must be taken to restore regulatory certainty to the competitive .