Shares in United Energy have fallen heavily this year, its teleco outfit, Uecomm, has seen its share price from $1.90 to 20.5 cents while Pulse Energy is failing to meet expectations.

Last Friday, United Energy named a new management team. Mr Bob Holzwarth has been named its new chief executive and Mr Keith Stamm, its chairman. Mr Holzwarth replaced Mr Don Bacon.

United Energy closed on Friday at $2.51, well down from $3.95 reached in August last year.

Another American energy group not so sanguine with Australia is Houston-based El Paso Corp, which has a 33 per cent stake in Epic Energy.

Epic's former CEO and now chairman of El Paso's Pipelines Division, Mr Jay Holm, was in Perth this week and told a board meeting that regulation was spoiling the investment climate in Australia.

Mr Holm warned that the American energy giant would reconsider its investment strategy in Australia if the WA regulators draft decision cutting its proposed tariffs by 25% was confirmed.

He pointed out that El Paso had not decided to put any of its $US4.7 billion capital investment in Australia this year.