October 5, 1999

I commend the Chairman for holding legislative hearings on his electricity bill, H.R. 2944. It is a lengthy and comprehensive proposal, dealing with issues of utmost importance to this essential industry, and it warrants our very close attention.

Today and tomorrow, Members will be treated to conflicting commentary on the merits of what has been included in the bill, what has been omitted, and how its various provisions fit together. This last issue is not unimportant, since the bill appears to draw on a number of prior proposals, and legislation of this significance must be internally consistent.

Mr. Chairman, as you know I have been concerned that the members of the committee have a sufficient grasp of this complex subject as they sift through the various arguments to determine what, if any, electric restructuring legislation the Congress should enact. There has not been much agreement among the various elements of the industry, consumer groups, state and federal regulators, and other interested parties. I salute your effort to build the consensus necessary for legislation of this magnitude to be enacted. The road to enactment is long, and it is important for Members to find common and durable ground before reporting a bill.

If a consensus does emerge from these hearings, and if Members on both sides of the aisle are comfortable going forward to a markup, all will be well. However, if this is not the case, there will little merit in forcing a markup in order to meet an arbitrary deadline. It is not unusual for major legislation to require several Congresses to mature. Notwithstanding the wishes of some of our honored guests, the time for enactment of legislation that will serve the broad public interest may not yet have arrived.

With that, I thank you for the courtesy your staff extended to the Minority in developing a witness list, and I look forward to hearing from the witnesses. I regret that the consideration of other important legislation on the House floor this week may keep me from spending as much time in these hearings as I would like, but can I assure you of my keen interest in the subject matter.