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ENRON CHAIRMAN LAY APPLAUDS CONGRESSMAN DELAY'S CONSUMERS ELECTRIC POWER ACT
FOR IMMEDIATE RELEASE: Thursday, October 3, 1996
HOUSTON -- Enron Chairman and Chief Executive Officer Kenneth L. Lay welcomed the introduction of the Consumers Electric Power Act (H.R. 4297) by House Majority Whip Tom DeLay (R-TX):
“If there was ever any doubt, this action by a key member of the House Republican leadership on the last day of the 104th Congress should make it clear that restructuring America’s costly and obsolete system of regulating electric power will be a top priority of the 105th Congress,” Lay said. “The momentum is building. Progressive legislation will enable our states to move quickly into a new era of electricity competition and consumer choice for the 21st Century.
“Congressman DeLay’s Consumers Electric Power Act also should erase the fiction that states’ rights will be ignored in the move to competition,” Lay added. “States across the country are already moving forward to design a new system that will mean enormous savings -- dollars that will be freed up for investment in economic growth and jobs. This action will encourage states to continue their movement toward deregulation and complement their previous efforts to bring choice to all electricity customers. On the national level, deregulation will cut our country’s electric bill by as much as $80 billion annually.
“I congratulate Congressman DeLay for his vision,” Lay said. “I am confident that with the active support and leadership of Commerce Committee Chairman Tom Bliley (R-VA), Subcommittee Chairman Dan Schaefer (R-CO), Congressman Ed Markey (D-MA) and others, this historic legislation will pass next year.”
Enron Corp., one of the world’s largest integrated natural gas and electricity companies with approximately $15 billion in assets, operates the largest natural gas transmission system in the Western Hemisphere and the second largest system in the world; is the largest purchaser and marketer of natural gas and the largest non-regulated marketer of electricity in North America; produces and markets natural gas liquids worldwide; owns 59 percent of Enron Oil & Gas Company, one of the largest independent (non-integrated) exploration and production companies in the United States; owns 59 percent of Enron Global Power & Pipelines L.L.C., which is owner and manager of operating power plants and natural gas pipelines around the world; and is one of the largest independent developers and producers of electricity in the world. Enron Corp. is traded under the ticker symbol, "ENE."
For additional information please contact:
Gary Foster
(713) 853-4527
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