Show sSsf v V' i'Z: XfV1 v£ S'Wfcj if :Wafi-8r- Power The companies have more electricity to sell on the wholesale market to high-tec- h and other customers Sut they want to keep more of the profits as an incentive for their efforts under current regulation extra earnings simply translate into lower customer prices Meanwhile industrial customers which use the vast majority of electricity are eager to be able to thoose from the lowest-coprovider rather than the current system of being limited to an assigned company st The Utah Association of Industrial Energy Users held a conference in May to explore the possible benefits of deregulation And new unregulated firms have """seized the opportunity by jumping into the fray as brokers who buy and resell extra electricity or marketing consultants who help a company sell their surplus PacifiCorp ideas v4 A te ir ' !s PacifiCorp thinks it is well positioned as a wholesale seller or to enter the new market as a management consultant for other companies or provider of tailor-mad- Stocks vaulted to new highs again this past week even as new data suggested the economy is slowing and raised dethe volume on the months-ol- d bate about how much higher the market can go Are stocks overpriced? Absolutely said Ned Riley chief investment officer at Bank of Boston who looks for a 10 percent correction in the Dow Jones industrials “When the downside potential is 10 percent why should I take a bet on a 3 percent gain?” Ronald Daino technical strategist at Smith Barney disagrees Taking a page from the “Don’t Fight the Tape” school of investing he believes too many people are trying to get into the market right now and that buying momentum will carry the Dow Jones industrial average to 5000 by year-en- d “Our momentum charts continue to look good to us" The market is “not overpriced but not underpriced either” argues A Marshall Acuff Smith Barney’s market strategist True the stocks of many companies have posted very impressive NEW YORK (AP) From IF 5 services e sf: i f V £- -' Standard-Examin- Some analysts predict market correction Market roundup HStralwr Xi A f BUSINESS 6F Sunday June 181 SG5 v 1 fi Strategy From IF gets you in the door has an exceCest chance of making the loan” gains and the Dow Jones industrial average has soared more than 20 percent since Thanksgiving But “typically at the top of a major bull market there is an excess of valuation that hasn't happened yet” Acuff said Technical data are inconclusive The average stock in the Standard & Poor’s 500 index is selling at about 16 times earnings not overly pricey But the dividend yield has slipped well below 3 percent There is a debate about how significant that is but it’s a caution signal to some Available cash in mutual funds is low as portfolio managers have rushed to get invested That means there may not be much gas left in the tank to push the market higher for the end in Friday June 16 All-tim- e 1 — I —J — — T high 41079 June 16 1995 I 794 1195 icy 194 7195 4195 Market strategists base their stock market projections on where they believe the economy is headed signs They got some this past week that it is slowing Consumer spending in May was weaker than expected Business inventories rose in April while sales fell Industrial production fell in May for the third consecutive month led by a slowdown in automobile production er eye-openi- When you receive the material from each bank review it to see whether there is any additional information that would knock it out as a potential lender such as conditions or extra Don’t charges they impose submit any applications yet B When you get ready to sign the purchase contract with the seller of the home you’re buying call the five or six banks that initially seemed to offer the best deal and get the name of someone who can give you rate updates Each bank’s rates will change regularly This is the time to figure out whether you want to pay two or three points - an origination fee based on a percentage of the loan amount - to obtain a lower rate or whether you’d rather pay zero points for a mortgage with a higher interest rate Once you have settled on the number of points you’re willing to pay it’s easier to make an comparison between the terms offered by each bank apples-to-appl- The Associated Press ( r ’ es for customers In May it created two new subsidiaries operating outside its service areas to market energy and related products and look for new opportunities in coal mine operations and other fuel management and development But the company wants to be cut loose from traditional regulation to pursue more opportunities said Steinberg who also is CEO of the new marketing subsidiary “The competition on the wholesale side has really heated We think it’s just the up beginning” Steinberg said “For us to take greater risk and be successful in the wholesale business of today then we need higher rewards” California’s high costs helped motivate its Public Utilities Commission to endorse a plan May 24 to create a mandatory power pool for its three largest electric companies with prices quoted every half hour like a commodities market The plan is nof’as open as a version pushed by PacifiCorp but is a first step toward allowing big customers direct access to suppliers vtM 7W 0(7 Steinberg said PacifiCorp also has helped create the Western Regional Transmission Association a voluntary pool of electric companies energy brokers and regulators that will set its own guidelines and settle disputes in a more open market “All these things have been happening simultaneously” Utah ’A electric manager Powell said If Utah regulators don’t study the problem state lawmakers or federal regulators may decide it for them he said -- r VI W “Things are happening all around us and we just may be pulled into it” One problem is that Utah fears the California experiment could be expanded into a regional pool creating a leveling effect where electric rates in California would be driven down but would go up in'vUtah and the northwestern What it wont cost you to refinance home with us your stifles he said $ Shop around? m-- r’ u Vr-- A Ui Another problem is that PacifiCorp as Utah Power has already invested in equipment to provide for its set industrial and other customers If big customers start shopping around smaller customers are likely to be left with a bigger chunk of set costs “Almost everything that’s envisioned leaves a small group of core customers served by a utility” Powell said “We need safeguards to ensure they don’t get only high The nance your home with a costs” lvj& i r refi- mortgage at the 1 Seven loan enough for you a ten-yewith a 8 34 fixed rate is also expect prices to stay the same in a changing industry he said “Maybe it’s a quid pro quo” he said “It's not fair to expect that absent any changes we can continue to decrease or stabilize rates At some point they're going to start going back up” Utah plans to begin a series of public discussions on the electric issues sometime in July Powell said rowed) Or another great option you might want to consider is our low variable-rat- e interest loan The talks will include regulators’ wish list of possible customer benefits from changes in the industry like potentially lower prices new federal rules with more of a western rather than East and Coast outlook conservation and environmental this loan No appraisal lees no title insurance fees no - value of your home0 Unlike the lengthy refinancing process you’re used to we’ll make sure you get through ours with no Ten Years ar 80 (To you calculator people that’s 120 monthly payments of $1253 per $1000 bor- - available You could also reduce the interest rate on your new Zions Dank Home Refinance Loan by as much as 045 Dank representative for details The real surprise is this: There are no fees with Just ask your Zions at 0f A Member Loan by phone Tele Loan embrace these notions without fully exploring the ramifications mind" i - (5626) or outside the Salt Lake calling to 7:00 537-LOA- N (5626) weekdays from Saturdays 10:00 am to 6:00 Zions Dank office This is a limited offer so act fast to get rates this low You’ll discover it’s just another way we give you more for your money And it won’t cost you one red cent I C Equal I lousing Lender The value of vour home is determined bv Zions Bank and we know we have the burden of proof” Steinberg said “We're just asking that people have an Just call am pm pm Or if it’s more convenient stop by the nearest F D a t' r a You can even apply ror Zions Dank Home Refinance area dial 8:00 Pt hassles and no waiting ZIONS BANK goals he said PacifiCorp also will be ready to make its case “We don’t expect people to just open origination fees no filing fees no points no fees period And nothing is added to the amount you end up borrowing which can be as much as 75 of the Icars at of their early investments in Utah PacifiCorp’s coal burning plants Powell said “They won’t be the ones that will benefit in the initial volley” Steinberg said of Utah’s residential and other small customers Regulators will not pass any plan that hurts small customers but it is unrealistic to now-efficie- nt r-- seven-yea- Home Refinance Loan no-waiti- ng low fixed interest rate of 8 12 APR (Annual Percentage Rate) If you happen to have a calculator within your reach that works out to 84 monthly payments of $ 1584 per $ 000 borrowed And if seven years isn’t customers may lose the advantage r- - no closing-cost- s Its no mistake At Zions Dank you can PacifiCorp’s suggestion of a price cap tied to inflation is not appealing in Utah because prices have stayed the same or gone done recently regulators also fear --I no-le- e t K 5f ' £ |