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The Energy Industry Update – Volume 5, Issue 2

Energy Industry Update

A Shock to the System

The Energy Industry Update (EIU) is a compendium of breaking news, emerging issues, and recent developments in the energy industry.

Hurricanes Katrina and Rita struck in late summer and early fall, leaving a path of death and devastation, including one bankrupt utility. Also, the Energy Policy Act of 2005, the most comprehensive energy legislation in more than a decade, was enacted in August. Meanwhile, FERC has a new chairman, who has changed the strategic thrust of FERC from focusing on competitive markets to a joint goal of competitive markets and effective regulation. Finally, energy companies remain active on a number of fronts, including in disaster recovery, nuclear development, M&A activity and SOX-related issues.

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