DOCSLIB.ORG

1 STATE of ILLINOIS ILLINOIS COMMERCE COMMISSION COMMONWEALTH EDISON COMPANY Petition for Declaratory Ruling Concerning the Appl

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
1 STATE of ILLINOIS ILLINOIS COMMERCE COMMISSION COMMONWEALTH EDISON COMPANY Petition for Declaratory Ruling Concerning the Appl STATE OF ILLINOIS ILLINOIS COMMERCE COMMISSION COMMONWEALTH EDISON COMPANY ) ) Petition for Declaratory Ruling concerning the ) Docket No. 19-0386 applicability of 83 Ill. Admin. Code § 452 to the ) planned provision of Price to Compare information ) via the ComEd Call Center. ) NOTICE OF FILING TO: Elizabeth Rolando, Chief Clerk All Parties on the attached Illinois Commerce Commission Service List for ICC Dkt. No. 19-0386 527 East Capitol Avenue Springfield, IL 62701 PLEASE TAKE NOTICE that on May 2, 2019 the undersigned caused a copy of the Verified Reply in Support of Commonwealth Edison Company’s Petition for Declaratory Ruling to be filed via e-Docket with the Clerk of the Illinois Commerce Commission, 527 E. Capitol Ave., Springfield, IL 62701, a copy of which is hereby served upon you. Respectfully submitted, COMMONWEALTH EDISON COMPANY By: /s/ Bradley R. Perkins Bradley R. Perkins Exelon Business Services Company 10 South Dearborn Street, Suite 4900 Chicago, IL 60603 (312) 394-2632 [email protected] 1 CERTIFICATE OF SERVICE I, Bradley R. Perkins, an attorney, do hereby certify that on May 2, 2019 I caused a copy of the above Notice of Filing, together with a copy of Verified Reply in Support of Commonwealth Edison Company’s Petition for Declaratory Ruling to be served via electronic mail upon all parties on the attached service list. /s/ Bradley R. Perkins_____________________ Bradley R. Perkins 2 ICC Dkt. No. 19-0386 SERVICE LIST Kelly Armstrong Turner Ronit C. Barrett Senior Attorney Eimer Stahl LLP Citizens Utility Board 224 S. Michigan Ave., Ste. 1100 309 W. Washington, Ste. 800 Chicago, IL 60604 Chicago, IL 60606 Evan Betterton Lael Campbell 6100 Emerald Pkwy. Director - State Government & Regulatory Affairs Dublin, OH 43016 Exelon Corporation 101 Constitution Ave., NW Washington, DC 20001 Jessica L. Cardoni Janice A. Dale Administrative Law Judge Senior Assistant Attorney General Illinois Commerce Commission Public Utilities Bureau, Chief 160 N. LaSalle St., Ste. C-800 Illinois Attorney General's Office Chicago, IL 60601 100 W. Randolph St., 11th Fl. Chicago, IL 60601 Ann DeBortoli Jeffrey A. Ferry Vice President Sr. Director - State Government Affairs 175 W. Jackson, Ste. 240 Dynegy Inc. Chicago, IL 60604 2604 Parsley Ln. Springfield, IL 62711 Gerard T. Fox Amanda Frazier Law Offices of Gerard T. Fox 1005 Congress Ave., Ste. 750 203 N. LaSalle St., Ste. 2100 Austin, TX 78701 Chicago, IL 60601 Robert L. Gibbs Veronica Gomez Director - Government & Regulatory Affairs Sr. Vice President & General Counsel 194 Wood Ave. South Commonwealth Edison Company Iselin, NJ 08830 425 S. Financial Pl., Ste. 3300 Chicago, IL 60605 3 Matthew L. Harvey John Holtz Office of General Counsel Regulatory Affairs Illinois Commerce Commission 3711 Market St., Ste. 1000 160 N. LaSalle St., Ste. C-800 Philadelphia, PA 19104 Chicago, IL 60601-3104 Scott Humbard Kaci Jacobs Exelon Corporation 6555 Sierra Dr. 4300 Winfield Rd., 5th Fl. Irving, TX 75039 Warrenville, IL 60555 Kenneth J. Johnson John Kern Johnson Blumberg & Associates, LLC MC Squared Energy Services, LLC 230 W. Monroe St., Ste. 1125 175 W. Jackson, Ste. 240 Chicago, IL 60606 Chicago, IL 60604 Stephanie C. Kueffner Kathleen Leiser Associate Counsel Administrative Secretary XOOM Energy Illinois, LLC Public Utilities Bureau 11208 Statesville Rd., Ste. 200 Illinois Attorney General's Office Huntersville, NC 28078 100 W. Randolph St., 11th Fl. Chicago, IL 60601 Karen L. Lusson Eric Mackie Sr. Assistant Attorney General Eimer Stahl LLP Deputy Bureau Chief 224 S. Michigan Ave., Ste. 1100 Illinois Attorney General's Office Chicago, IL 60604 100 W. Randolph, 11th Fl. Chicago, IL 60601 Kristin Munsch Melville Nickerson Deputy Director Legal Counsel Citizens Utility Board 804 Carnegie Center 309 W. Washington, Ste. 800 Princeton, NJ 08540 Chicago, IL 60606 Mike Nugent Anastasia M. O'Brien 6100 Emerald Pkwy. VP & Deputy General Counsel Dublin, OH 43016 Exelon Business Services Company 10 S. Dearborn St., 49th Fl. Chicago, IL 60603 4 Joseph E. Oliker Bradley R. Perkins Interstate Gas Supply of Illinois, Inc. Assistant General Counsel 6100 Emerald Pkwy. Exelon Business Services Company Dublin, OH 43016 10 S. Dearborn St., 49th Fl. Chicago, IL 60603 David Ricketts Teresa L. Ringenbach 1005 Congress Ave., Ste. 750 Manager - Government & Reg Affairs (Midwest) Austin, TX 78701 Direct Energy, LLC 21 E. State St., 19th Fl. Columbus, OH 43215 Neal Roper Susan L. Satter 116 Huntington Ave., Ste. 700 Sr. Asst. Attorney General Boston, MA 02116 Illinois Attorney General's Office 100 W. Randolph - 11th Floor Chicago, IL 60601 John Schatz Christopher Sill 6555 Sierra Dr. 1500 Eastport Plaza Dr. Irving, TX 75039 Collinsville, IL 62234 John P. Slocum Julie Soderna Government & Reg Affairs Representative General Counsel Integrys Energy Services Citizens Utility Board 10 S. Dearborn St., 47th Fl. 309 W. Washington, Ste. 800 Chicago, IL 60606 Chicago, IL 60606 Suzanne Stelmasek Michael R. Strong 10 S. Dearborn St., 47th Fl. Funkhouser Vegosen Liebman & Dunn Ltd. Chicago, IL 60606 55 W. Monroe St., Ste. 2300 Chicago, IL 60603 Charles C. Sutton, President Matthew S. White 175 W. Jackson Blvd., Ste. 240 6100 Emerald Parkway Chicago, IL 60604 Dublin, OH 43016 5 Sheri Wiegand Kevin Wright, President 6555 Sierra Dr. Illinois Competitive Energy Association Irving, TX 75039 1601 Clearview Dr. Springfield, IL 62704 6 .
Load more

Recommended publications
  • Whpr19741120-011
    Digitized from Box 5 of the White House Press Releases at the Gerald R. Ford Presidential Library c REPRESENTATIVES OF THE ELECTRIC UTILITY INDUSTRY November 20, 1974 10:30 a.m. - 12:30 p.m. Howard Allen, Executive Vice President Ben H. Fuqua, Vice President Southern California Edison Company Florida Power and Light Company P. O. Box 800 P. O. Box 3100 Rosemead, California 91770 Miami, Florida 33101 T. L. Austin, Jr., President Robert F. Gilkeson, Chairman Texas Utilities Company Philadelphia Electric Company 1506 Cornmerce Street Chairman, Edison Electric Institute Dallas, Texas 75201 2301 Market Street Philadelphia, Pennsylvania 19101 H. A. Barker, President Public Service Company of Indiana Andrew H. Hines, President 1000 East Main Street Florida Power Corporation ~: .-.:..~ .' Plainfield, Indiana 46168 101 Fifth Street South St. Petersburg, Florida 33733 Herbert B. C.ohn, Vice Chairman American Electric Power Service Corp. William G. Lalor, Jr., Senior Two Broadway Vice President New York, New York 10004 Southern Services, Inc. P. O. Box 2625 Jack E. Corette, Chairman Birmingham, Alabama 35202 Montana Power Company 40 East n roadway Ralph L. Meyer Butte, Montana 59701 _Vice ~resident, Finance San Diego Gas & Electric Company Gordon R. Corey, Vice Chairman P.O. Box 1831 Commonwealth Edison Company San Diego, California 92112 P. O. Box 767 (Attending for Walter A. Zitlau) Chicago, Illinois 60690 Guy W. Nichols, President W. Donham Crawford, President New England Electric System Edison Electric Institute 20 Turnpike Road 90 Park Avenue Westboro, Massachusetts. 01581 New York, New York 10016 Robert T. Person. Chairman and ( \ Joseph M. Farley, President President Alabama Power Company Public Service Company of Colorado 600 North 18th Street 550 Fifteenth Street Birmingham, Alabama 35202 Denver, Colorado 80202 Lelan F.
    [Show full text]
  • Commonwealth Edison Company ICC General Information Requirements Sec. 285.310(B) for Filing Year 2013
    Commonwealth Edison Company ICC General Information Requirements Sec. 285.310(b) For Filing Year 2013 3DUW E THIS FILING IS Form 1 Approved OMB No.1902-0021 Item 1: An Initial (Original) ORX Resubmission No. ____ (Expires 12/31/2014) Submission Form 1-F Approved OMB No.1902-0029 (Expires 12/31/2014) Form 3-Q Approved OMB No.1902-0205 (Expires 05/31/2014) FERC FINANCIAL REPORT FERC FORM No. 1: Annual Report of Major Electric Utilities, Licensees and Others and Supplemental Form 3-Q: Quarterly Financial Report These reports are mandatory under the Federal Power Act, Sections 3, 4(a), 304 and 309, and 18 CFR 141.1 and 141.400. Failure to report may result in criminal fines, civil penalties and other sanctions as provided by law. The Federal Energy Regulatory Commission does not consider these reports to be of confidential nature Exact Legal Name of Respondent (Company) Year/Period of Report Commonwealth Edison Company End of 2012/Q4 FERC FORM No.1/3-Q (REV. 02-04) 3DUW E INSTRUCTIONS FOR FILING FERC FORM NOS. 1 and 3-Q GENERAL INFORMATION I. Purpose FERC Form No. 1 (FERC Form 1) is an annual regulatory requirement for Major electric utilities, licensees and others (18 C.F.R. § 141.1). FERC Form No. 3-Q ( FERC Form 3-Q)is a quarterly regulatory requirement which supplements the annual financial reporting requirement (18 C.F.R. § 141.400). These reports are designed to collect financial and operational information from electric utilities, licensees and others subject to the jurisdiction of the Federal Energy Regulatory Commission.
    [Show full text]
  • I . Commonwealth Edison Company I 1968
    1968 . Commonwealth Edison Company I ANNUAL I REPORT rG' q l\ T f1~)\{ P-fl f'! ~ l- T i: p r- rf)r.> R\ (. 1 U 1..- T1. I '.._; l ' :.. ' .. ) '- " • '. t__ I I , l I.... " . ' \... l 7.8 GROWTH GOING UP The front cover depicts Commonwealth Edison's accelerating rate of growth. From 1953 through 1958, kilowatthour sales to ultimate consumers grew at an average of 6.1 percent a year. For the next five year period ending in 1963, that figure moved up to 6 .9 percent. And for the past five years, sales have averaged an annual 7.8 percent gain. This growth in growth- 6.1 to 6.9 to 7.8 percent- is due to a combination of our own marketing efforts and one of the finest service areas in the country. We do not know how to weigh the separate effect of each of these factors, but we like the result. 1953 1958 1963 1968 I 1968 HIGHLIGHTS I Average Change Annual Change 1968 Since 1967 Since 19631 Net Income on Common Stock $125.6 million up 0.6 3 up 6.9 3 Earnings per Share $2.99 up 0.3 3 up 6.7 3 23 Cash Dividends Paid per Share . $2.20 up 4.8 3 up 13.0 3 2 Electric Operating Revenues $745.3 million up 8.2 3 up 5.8 3 Average Residential Revenue• 2.56¢/Kwh down 1.9 3 down 1.9 3 5 6 Residential Heating Charge . 1.09¢/Kwh down 7.6 3 down 2.6 3 Sales to Ultimate Consumers 39.
    [Show full text]
  • Closing the Cloud Factories by Kari Lydersen Acknowledgements
    Closing the Cloud Factories Lessons from the fight to shut down Chicago’s coal plants By Kari Lydersen Published by and ©2014 Midwest Energy News Acknowledgements Warmest thanks to all the activists, organizers, experts and other Chicago residents who took time to speak with me for this book and for my reporting on this issue in general. Special thanks to Kim Wasserman, Ian Viteri, Claudia Ayala, Jerry Mead-Lucero, Dorian Breuer, Jack Ailey, Pam and Lan Richart, Brian Urbaszewski, Tom Shepherd, Howard Learner, Faith Bugel, Henry Henderson, Kelly Mitchell, Christine Nannicelli, Jack Darin, Emily Rosenwasser, Becki Clayborn, David Jakubiak, Edyta Sitko, Debra Michaud and Josh Mogerman for their time and assistance. Thanks also to Douglas McFarlan of Midwest Generation, whom even fierce industry critics acknowledge for his respectful approach to adversaries. And deepest apologies to all those who were inadvertently not mentioned or given due credit here. Many thanks to Midwest Energy News and Ken Paulman for conceiving of, editing and publishing this book, and to the Joyce Foundation and RE-AMP for their generous support. - Kari Lydersen, Chicago, June 2014 Midwest Energy News is an editorially independent online news service published by Fresh Energy and RE-AMP. Cover photo courtesy of Rainforest Action Network Editing/Layout: Ken Paulman Photos by Lloyd DeGrane, Kari Lydersen, Pam Richart, and Greenpeace Cover design by Meher Khan Assistant editor: Jessica Conrad Table of Contents Introduction: 'Suddenly it all made sense' 1: A city built
    [Show full text]
  • Open PDF File of Data Source
    Members List U.S. Investor-Owned Electric Companies International Members Associate Members EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia, and directly and indirectly employ more than one million workers. Safe, reliable, affordable, and clean energy powers the economy and enhances the lives of all Americans. Organized in 1933, EEI provides public policy leadership, strategic business intelligence, and essential meetings and forums. U.S. Investor-Owned Utilities AES Corporation Emera Maine OGE Energy Corporation Dayton Power & Light Company Empire District Electric Company Oklahoma Gas & Electric Company Indianapolis Power & Light Company Entergy Corporation Ohio Valley Electric Corporation ALLETE Entergy Arkansas Oncor Minnesota Power Entergy Louisiana Otter Tail Corporation Superior Water, Light and Power Company Entergy Mississippi Otter Tail Power Company Alliant Energy Corporation Entergy New Orleans PG&E Corporation Ameren Corporation Entergy Texas Pacific Gas & Electric Company Ameren Illinois Eversource Energy Pinnacle West Capital Corporation Ameren Missouri Exelon Corporation Arizona Public Service Company American Electric Power Baltimore Gas & Electric Company PNM Resources AEP Ohio Commonwealth Edison Company PNM AEP Texas PECO Energy Company TNMP Appalachian Power Pepco Holdings Portland General Electric Indiana Michigan Pepco PPL Corporation Kentucky Power Atlantic City Electric
    [Show full text]
  • Insull and the Chicago Edison Company
    Global Strategies and National Performance: Explaining the Singularities of the Spanish Electricity Supply Industry1 Francesca Antolín In this article I compare the trajectories of two pioneers, contemporaries who were leaders of the electricity industry in their respective countries: Samuel Insull, who led the U.S. Chicago Edison Company, and Juan Urrutia, creator of Hidroeléctrica Ibérica in Spain. The Chicago Edison Company was the world leader in managerial strategy and design, in the application of new technology, internal management, commercial policy, and in the establishment of a framework for relationships among firms, financial systems, and administration. Hidroeléctrica Ibérica was created in 1901, shortly after major advances in long-distance electricity transportation, for the purpose of exploiting hydro- electricity resources. It immediately established itself as the leader of Spain’s electricity sector, and remains a leader in the twenty-first century through the ambition of the initial project, the quality of the resources, and its strategies on various fronts. My purpose is to reflect on both the demand and the supply side of the complexities of the evolution of large technological systems, which are subject to a wide variety of influences. I explore the degrees of freedom that remain open to a follower who adapts strategies to special circumstances once a world leader has shown the way. I examine differences in context and their consequences for the economic logic Urrutia applied when making policy decisions that seem to differ from the best entrepreneurial practice of the period as defined by Insull. The electricity supply industry, intensive in capital, technology, and management, appeared around the end of the nineteenth century.
    [Show full text]
  • Samuel Insull Papers, 1799-1970
    SAMUEL INSULL PAPERS Bulk 1799-1970 Primarily 1932-1935 100 Boxes or Scrapbooks 18 Volumes, 1 Oversize File Folder 8 Unboxed Items of Memorabilia Prepared by Valerie Gerrard Browne With Assistance from Arthur W. Lysiak Lorraine T. Ojeda Michael Zablotney Margaret T. McShane William Lum Brent P. Wold LOYOLA UNIVERSITY CHICAGO ARCHIVES Cudahy Library, Room 219 6525 N. Sheridan Road Chicago, IL 60626 (312) 508-2661 SAMUEL INSULL PAPERS COLLECTION, 1799-1970, primarily, 1932-1935 100 Boxes or Scrapbooks, 18 Volumes, 1 Oversize File Folder, and 8 Unboxed Items of Memorabilia Accession Numbers 83-9 and 90-35 The Samuel Insull Papers were donated to Loyola University of Chicago in 1967 by Samuel Insull, Jr., an original member of the University's Lay Board of Trustees. In succeeding years small additions were received from Samuel Insull, Jr.; Audrey Miller; P. A. Linskey; Edith Malcolm; and Commonwealth Edison Company, through the courtesy of William H. Colwell, secretary of the Company, and George R. Jones, vice president and treasurer, retired, of Public Service Company of Northern Illinois. Prior to its donation to Loyola, Forrest McDonald used the collection in the preparation of Insull (Chicago: University of Chicago Press, 1962), his biography of Samuel Insull. Dr. McDonald's papers relating to the preparation of this biography were also donated to the Archives. SELECTED BIOGRAPHICAL NOTES ON SAMUEL INSULL 1859, 11 November Born, London, England, second of five children to survive to adulthood, of Samuel and Emma Short [Ann Short, on marriage certificate] Insull. 1879 Becomes private secretary and bookkeeper for Col. George E.
    [Show full text]
  • Illinois Energy Association Brochure PDF…
    Powering Illinois ILLINOIS HAS THE 5TH LARGEST ELECTRIC POWER INDUSTRY IN THE COUNTRY THE INDUSTRY IS ESSENTIAL TO THE ILLINOIS ECONOMY THE ELECTRIC POWER INDUSTRY SUPPORTS 286,000 Jobs In Illinois 103,000 Direct Jobs 183,000 Indirect Jobs High Paid Jobs The Industry Supports and Induces OUT 2X The National Median Salary 1 OF 20 Jobs In Illinois Illinois Taxes Paid Annually Infrastructure In Illinois $4.2 $3.7 BILLION BILLION New and improved energy The Industry pays taxes infrastructure throughout in every community in Illinois in 2015 the State Economic Impact Powering America $880 5% BILLION Of Total GDP Contributed to the Nationally, Over $100 National Economy by Billion in direct investments every year the Electric Industry The Electric Power Industry in Illinois is comprised of regulated utilities, municipal electric companies, electric cooperatives, and independent power producers. Read more at: www.ilenergyassn.org ILLINOIS' PATH TO MODERN ENERGY POLICY Illinois has been a national leader in energy policy for the last 20 years. Electric Restructuring - Late 1990's Starting in the 1990's many customers became interested in shopping for their own electric supply. By 1997 Illinois had approved electric deregulation that kept electric utilities as regulated delivery companies but allowed the power plants to operate on the free market. Restructuring brought billions of dollars in efficiencies and savings to the State. Market Based Rates - Investing in Renewable Energy 2007 Switching from regulated to market rates was phased in over a decade. At the end of the transition perio d many residential customers found that the market did not offer them the products they had become accustomed to.
    [Show full text]
  • 2019 Financial Review Annual Report of the U.S
    2019 Financial Review Annual Report of the U.S. Investor-Owned Electric Utility Industry Thank you to the following EEI Associate Member for sponsoring the 2019 Financial Review. Empowering the Modern Finance Organization Forward-thinking utilities leverage Lucasys cloud software and technology enabled services to enhance their ability to tackle challenges related to a changing workforce, complex regulatory environment, and dynamic compliance requirements. Lucasys solutions include: Accounting and tax Business analytics Data management Digital transformation Finance automation Financial systems Process optimization Resource augmentation empowering modern finance www.lucasys.com 2019 FINANCIAL REVIEW ANNUAL REPORT OF THE U.S. INVESTOR-OWNED ELECTRIC UTILITY INDUSTRY About EEI and the Financial Review The Edison Electric Institute (EEI) is the association that represents all U.S. investor-owned electric companies. Our U.S. members provide electricity for 220 million Americans and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the U.S. and contributes 5 percent to the nation’s GDP. The 2019 Financial Review is a comprehensive source for critical financial data covering 40 investor-owned electric companies whose stocks are publicly traded on major U.S. stock exchanges. The report also includes data on five additional companies that provide regulated electric service in the United States but are not listed on U.S. stock exchanges for one of the following reasons—they are subsidiaries of an independent power producer; they are subsidiaries of foreign-owned companies; or they were acquired by other investment firms.
    [Show full text]
  • Comed Filing Packagepdf
    April 16, 2021 Kimberly Bose Secretary Federal Energy Regulatory Commission 888 First Street, N.E. Washington, D.C., 20426 Re: Commonwealth Edison Company and Commonwealth Edison Company of Indiana, Inc., Informational Filing of Formula Rate Annual Update Docket No. ER09-1145-000 Dear Secretary Bose Attached for informational purposes in the above-referenced proceeding, please find the 2021 Annual Update of Commonwealth Edison Company (“ComEd”). This informational filing is required pursuant to the Settlement Agreement approved by the Federal Energy Regulatory Commission (“Commission”) on January 16, 2008 in Docket No. ER07-583,1 and Section 1(b) of the Formula Rate Implementation Protocols in Attachment H-13B of PJM Interconnection, LLC’s (“PJM”) Open Access Transmission Tariff (“OATT”). Under Attachment H-13B and the Settlement Agreement, on or before May 15 of each calendar year ComEd recalculates its Annual Transmission Revenue Requirement and submits an Annual Update for the upcoming Rate Year. See Attachment H-13B §§ 1(a)-(b). The Annual Update is to be submitted to the Commission as an informational filing each rate year.2 The March 12, 2010 Letter Order accepting ComEd’s 2009 Annual Update established the procedure for the Annual Update filings: This letter also advises ComEd that annual updates in the forthcoming years should be submitted, for informational purposes only, in Docket No. ER09- 1145-000. Upon receipt, the Commission will not act on or notice the informational filing because the formula rate implementation protocols provide specific procedures for notice, review, and challenges to the annual updates.3 1 Commonwealth Edison Co., 122 FERC ¶ 61,030 (2008) (“January 16 Order”) 2 The protocols require that ComEd submit the Annual Update by May 15 of each rate year, unless the date for making the Annual Update falls on a weekend, then the filing may be made on the next business day.
    [Show full text]
  • 1 Interview with Loyola University Professor Harold Platt for Program Two: “Electric Nation” Note: This Transcript Is from A
    Interview with Loyola University Professor Harold Platt for Program Two: “Electric Nation” Note: This transcript is from a videotaped interview for the “Electric Nation” segment of “Great Projects.” It has been edited lightly for readability. Harold Platt: In 1929, Samuel Insull was one of the most famous men in America. He had arrived here in 1880 as a secretary for Thomas Edison, an immigrant, young immigrant from England. And during that time, ‘til 1929, he had fulfilled the American dream and more, rising up to become the head of the largest utility company in America, Commonwealth Edison, and a vaster empire of holding companies of utility companies across America that apparently controlled about one-eighth of the electricity in the entire country. He was famous because he was so outspoken as the leader of the electrical utilities industry and he was outspoken as a great leader of Chicago. HP: In 1892, Samuel Insull faced a big decision. Two of the largest companies making electrical equipment joined together as General Electric. Sam Insull was heading the manufacturing arm of Edison's company up in Schenectady, New York. And under the new merger plan, he would have ended up as second vice president or third in charge of the entire General Electric company. This was quite a prestigious position but not the top man. At the same time, Chicago Edison a fledgling little electric company in Chicago was searching for a new president, and Insull as Edison's point man in selling central station service was familiar to the Chicago businessmen. They asked Insull for advice as to who they should ask to be the next president, and instead he put his own name forward.
    [Show full text]
  • From Insull to Enron: Corporate (Re)Regulation After the Rise and Fall of Two Energy Icons
    INDIANA LAW INDIANA UNIVERSITY SCHOOL OF LAW-BLOOMINGTON LEGAL STUDIES RESEARCH PAPER SERIES Research Paper Number 18 March 2005 FROM INSULL TO ENRON: CORPORATE (RE)REGULATION AFTER THE RISE AND FALL OF TWO ENERGY ICONS Hon. Richard D. Cudahy & William D. Henderson This paper can be downloaded without charge from the Social Science Research Network electronic library at: http://ssrn.com/abstract=716321 Abstract For most Americans, the collapse of the Enron Corporation is without doubt the most memorable corporate event of their generation. Remarka- bly, few people are aware that the New Deal regulatory framework – which Congress recently reformed and toughened to in response to the Enron debacle – was itself erected in the wake of a strikingly similar cor- porate crash. In late 1931 and early 1932, the country looked on in hor- ror as Samuel Insull’s mighty and seemingly invulnerable electric utility holding company empire collapsed without warning, wiping out the hold- ings of over 1 million investors, most of whom believed that they had in- vested in a safe and secure electric utility enterprise. The newspapers of the day declared the event “the biggest business failure in the history of the world.” President Franklin D. Roosevelt and the progressives in Con- gress subsequently used the Insull debacle as a rallying point from which to promote many of the most important laws of the New Deal, including the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Federal Power Act of 1935, and the legislation creating the Tennessee Valley Authority and the Rural Electrification Administration.
    [Show full text]