Elliot Roseman

The theory behind restructuring is that by unbundling the segments of the power industry, allowing generation and supply to compete while providing incentives for efficiency to transmission and distribution, that market power will be reduced, competition, new technology and innovation will flourish and the consumer will benefit. Thus, at this time, while we are in the midst of a market transition, it seems appropriate to take a look at some of the signposts that would indicate whether we are on a path to achieving those worthy objectives, and also to ask: "How can we do better?" To see if we are on the right track, let me cite and comment on a few of these signposts, including Federal legislation, the situation in California, state restructurings of the power sector, FERC Order 2000, the adequacy of the transmission system, and transmission access issues. In each case, I make some positive recommendations, and in addition, I conclude with some hopeful signs for reaching the goals of the competitive market.