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FOR IMMEDIATE RELEASE: Thursday, July 11, 1996
HOUSTON -- Enron Chairman and Chief Executive Officer Kenneth L. Lay welcomed today's introduction of the Electric Consumers' Power to Choose Act of 1996 by Rep. Dan Schaefer (R-CO).
"This is an important day in our nation's progress toward choice, competition and lower costs in electric service," Lay said. "The Electric Consumers' Power to Choose Act clearly establishes Congressman Schaefer as a friend of the consumer, in a manner that respects the rights of states. While providing choice for everyone, the bill gives the states ample time and authority to deal with such issues as universal service, reliability, stranded costs, and energy efficiency.
"It also makes clear that the benefits of deregulation should not be unreasonably delayed," Lay noted. "Consumer choice is the equivalent of a $60 billion to $80 billion annual tax cut. It will reduce costs to all consumers large and small, spur economic development, and create new jobs. There is no reason to delay passage of this legislation. From New Hampshire to California, more and more states are accelerating their efforts to bring the benefits of competition and consumer choice to their citizens. This bill respects those efforts, builds on them, and will surely encourage them.
"On behalf of all of us at Enron, I congratulate Congressman Schaefer for his courage and his vision in charting a sensible pathway to a more efficient and more equitable energy future," Lay said.
Enron Corp., one of the world's largest integrated natural gas companies with approximately $13 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:
Diane Bazelides
(713) 853-6285
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