Number: RL32133
Title: Federal Merger Review Authorities and Electric Utility Restructuring
Authors: Aaron M. Flynn, Janice E. Rubin, and Michael V. Seitzinger, American Law Division 
Abstract: Reform of federal agency oversight of electric utility mergers is among the issues addressed in the conference report of H.R. 6, the Energy Policy Act of 2003. The current version of the bill would repeal the Public Utility Holding Company Act of 1935 (PUHCA), fundamentally altering the current regulatory system by curtailing Securities and Exchange Commission (SEC) involvement in the merger oversight process. The conference report also incorporates provisions from both the House and Senate versions of the bill, including changes to the merger review process conducted by the Federal Energy Regulatory Commission (FERC) and the antitrust agencies. This report explains the regulatory environment now in place and addresses some of the proposed changes to current merger review procedures.
Pages: 11
Date: January 23, 2004