fw : ferc oversight please see below . ferc is " mulling over " whether to exert broader authority over the ubs purchase .
jim
- - - - - original message - - - - -
from : nicolay , christi l .
sent : wednesday , january 16 , 2002 4 : 20 pm
to : steffes , james d .
subject : fw : ferc oversight
- - - - - original message - - - - -
from : corman , shelley
sent : wednesday , january 16 , 2002 4 : 19 pm
to : nicolay , christi l .
subject : ferc oversight
us ferc mulls scope of authority over enron - ubs deal
01 / 16 / 2002
dow jones energy service
( copyright ( c ) 2002 , dow jones & company , inc . )
washington - ( dow jones ) - ubs warburg ' s bid to take over the energy trading business of enron corp . ( ene ) will require federal energy regulatory commission approval , ferc chairman pat wood iii confirmed wednesday .
once cleared by the bankruptcy court , ferc expects to receive an application for approval of the deal under the commission ' s authority , wood told reporters .
ferc ' s jurisdiction involves the transfer of enron ' s commission - granted authority to regulate the rates at which enron sells electricity and natural gas , said cynthia marlette , ferc ' s general counsel .
but marlette indicated the commission is mulling whether to exert a broader regulatory reach over the deal . " the commission hasn ' t opined yet whether it has jurisdiction over the corporate transfer , " she said .
as announced in recent days , ubs warburg , a unit of ubs ag ( u . ubs ) , will assume enron ' s trading business with little if any cash up front , while paying enron royalties equal to 33 % of pre - tax earnings .
the bankruptcy judge is due to rule on the deal later this week .
fw : ferc oversight
please see below . ferc is " mulling over " whether to exert broader authority over the ubs purchase .
jim
- - - - - original message - - - - -
from : nicolay , christi l .
sent : wednesday , january 16 , 2002 4 : 20 pm
to : steffes , james d .
subject : fw : ferc oversight
- - - - - original message - - - - -
from : corman , shelley
sent : wednesday , january 16 , 2002 4 : 19 pm
to : nicolay , christi l .
subject : ferc oversight
us ferc mulls scope of authority over enron - ubs deal
01 / 16 / 2002
dow jones energy service
( copyright ( c ) 2002 , dow jones & company , inc . )
washington - ( dow jones ) - ubs warburg ' s bid to take over the energy trading business of enron corp . ( ene ) will require federal energy regulatory commission approval , ferc chairman pat wood iii confirmed wednesday .
once cleared by the bankruptcy court , ferc expects to receive an application for approval of the deal under the commission ' s authority , wood told reporters .
ferc ' s jurisdiction involves the transfer of enron ' s commission - granted authority to regulate the rates at which enron sells electricity and natural gas , said cynthia marlette , ferc ' s general counsel .
but marlette indicated the commission is mulling whether to exert a broader regulatory reach over the deal . " the commission hasn ' t opined yet whether it has jurisdiction over the corporate transfer , " she said .
as announced in recent days , ubs warburg , a unit of ubs ag ( u . ubs ) , will assume enron ' s trading business with little if any cash up front , while paying enron royalties equal to 33 % of pre - tax earnings .
the bankruptcy judge is due to rule on the deal later this week .