S. HRG. 107-279 PUBLIC UTILITY HOLDING COMPANY ACT OF 2001-S. 206 HEARING BEFORE THE SUBCOMMITTEE ON SECURITIES AND INVESTMENT OF THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS TO REPEAL THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, TO MARCH 29, 2001 Printed for the use of the Committee on Banking, Housing, and Urban Affairs For sale by the Superintendent of Documents, U.S. Government Printing Office WAYNE A. ABERNATHY, Staff Director STEVEN B. HARRIS, Democratic Staff Director and Chief Counsel DEAN V. SHAHINIAN, Democratic Counsel XF26 Copy! LIBRARY OF CONGRESS APR 08.2002 Prepared statement 9 25 Isaac C. Hunt, Jr., Commissioner, Securities and Exchange Commission Cynthia A. Marlette, Deputy General Counsel, Federal Energy Regulatory ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD Prepared statement of Marty Kanner, Coordinator, On Behalf of Consumers THE PUBLIC UTILITY HOLDING COMPANY ACT OF 2001-S. 206 THURSDAY, MARCH 29, 2001 U.S. SENATE, COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS, SUBCOMMITTEE ON SECURITIES AND INVESTMENT, Washington, DC. The Subcommittee met at 10:10 a.m., in room SD-538 of the Dirksen Senate Office Building, Senator Michael B. Enzi (Chairman of the Subcommittee) presiding. OPENING STATEMENT OF SENATOR MICHAEL B. ENZI Senator ENZI. I will call this hearing to order. I was asked by the Chairman of the Banking Committee to announce that this will be the first hearing since the first of the 50State quarter plasters were installed. A new plaster will go up every 10 weeks. These are the new quarters. I can hardly wait until the Wyoming one goes up in 2007. [Laughter.] However, we are pushing for a space right here above the quarters, right in the center, for the Sacagawea dollar. We call that the Wyoming Dollar. [Laughter.] She may have been born in Idaho and shortly after that, kidnapped to North Dakota, and then went on the great expedition with Louis and Clarke through the whole west. But after she had seen the whole west, she chose to live out the rest of her life in Wyoming. We were so pleased to have her chosen for the coin. A bunch of Wyoming kids were involved in that process. We will be looking for that plaster to go up as well. To get down to the more serious business of this hearing, I would like to welcome everyone to the Senate Banking Subcommittee on Securities and Investments. The hearing is on S. 206, the Public Utility Holding Company Act of 2001. The bill was sponsored by my colleague, Senator Shelby from Alabama. This is my first hearing as Chairman of the Subcommittee on Securities and Investments. I look forward to addressing other issues of similar importance in the future. I would also like to thank the witnesses for their willingness to be here today and to share their insights on the role of this Act in 21st Century energy markets. I apologize for our slight delay in getting started. We are in the middle of a vote. Others will be joining me here shortly, as Senator Corzine has. |