In addition, the utilities can now make foreign investments without SEC approval, within certain restrictions. Spokesmen for the other utilities operating in the state indicated they are not presently seeking to own EWG's or invest in foreign countries, but might consider it in the future. This could make it easier for the Louisiana Energy and Power Authority and Cajun Electric Cooperative, which have very little transmission capability, to gain access to potential new members. Also, Louisiana's fourteen cogenerators presently selling power to Louisiana utilities now have the right to have it wheeled anywhere they choose. Although FERC is empowered to order wheeling, it is not required to do so if service to the transmitting utilities' existing customers is impaired.
Pricing is sure to dominate the issues open access has created.
The Act directs state regulatory commissions to look at the effects of wholesale power purchases on utility cost of capital and to consider utility investments in energy conservation and efficiency in the rate-making process so such investments are as profitable as those in new generating plants. The idea is to provide a financial incentive for utilities to use measures other than building new power plants to meet their customers' needs. Even without this incentive every Louisiana utility is planning or is implementing such measures. While the country finally has an energy policy, many of the regulations needed to implement it are not in place. The burden of providing this regulatory framework is still the domain of the FERC and state public service commissions as it was before the Act was passed.