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November 2001

Release Date: November 5, 2001

AEP/WTU Distinguished Prof to Address Electric Utility Deregulation

E.R. "Dick" Brooks, the former chairman and chief executive officer of Central and South West Corporation (CSW), will speak on "Deregulation of the Electric Utility Industry the Last Pure Monopoly" Monday, Nov. 12, on the campus of Angelo State University.

Brooks, the AEP/West Texas Utilities Distinguished Professor in Residence at Angelo State University this fall, will speak at 7 p.m. Monday, Nov. 12, in Room 100 of the Math-Computer Science Building at 2200 Dena Drive. A reception, open to the public, will follow his presentation.

Historically, the United States has had the world's best electric system and the lowest rates, even though our electric system was built as a monopoly. The question facing business and policymakers today is whether or not it can be deregulated into a competitive industry in a way that will benefit all involved. The California experience indicates that it cannot, but Texas policymakers think it can. However, recent discussions have indicated some concerns about whether deregulation can be fully implemented by this coming year as planned. Brooks will explore those and related issues during his talk.

As the AEP/West Texas Utilities Distinguished Professor, Brooks has spent four weeks on campus this fall. He has lectured in a variety of ASU business classes so that students can learn from his expertise in the utilities sector.

The program was jointly initiated by West Texas Utilities and ASU in 1996. The primary objective of the program is to provide ASU students and faculty special opportunities for expanding and enriching their educational experience and intellectual growth.

As part of the program each year, the AEP/West Texas Utilities Distinguished Professor makes a major public lecture on a topic appropriate to the visitor's expertise. Brooks is an authority on utilities industry background, including monopolies, deregulation and mergers; and strategic planning, as well as management style, professional and personal profiles and business ethics.

A native West Texan, Brooks served as chairman and CEO of CSW for nine years until his retirement last year. In that capacity, he headed the second largest electric utility provider in the U.S. and oversaw the evolution of the company from a regional electric utility system to a global, market-driven business.