Dynegy has fired up its first constructed, owned and operated
natural gas-fired peaking plant, the 250 MW Rocky Road Power Plant
near Chicago, in time to serve the summer air conditioning load.
Dynegy plans to sell the power generated at the merchant power
plant into the wholesale electricity market. As a peaking plant it
will run on an as-needed basis. The Rocky Road plant is part of the
company's previously announced plan to back up its trading unit
with a $5 billion generation expansion program. Dynegy is aiming to
own or control more than 70,000 MW of generating capacity by 2003.
It has 6,800 gross MW operating or under construction and recently
announced plans for two natural gas-fired 500 MW plants, one in
Heard County, GA and another in Oldham County, KY.
Leviathan Gas Pipeline announced it has increased its interest
in three offshore Gulf of Mexico assets by completing a deal with
KN's Natural Gas Pipeline of America (NGPL) worth $51 million.
Leviathan, a publicly held master limited partnership whose general
partner is El Paso Energy, increased its interest from 40% to 60%
in the High Island Offshore System (HIOS) and East Breaks Gathering
Co. and from 33% to 67% in the U-T Offshore System (UTOS). The
HIOS, located off the eastern coast of Texas, has a total capacity
of 1.8 Bcf. UTOS transports gas from the HIOS terminus to multiple
processing facilities in onshore Louisiana. East Breaks Gathering
Co. is constructing an 85-mile 400 MMcf/d pipeline which will
transport gas from an Exxon and BP Amoco exploration and production
joint venture in Alaminos Canyon Block 25.
FERC yesterday approved the merger of BEC Energy and neighboring
Commonwealth Energy in a deal valued at about $950 million. BEC
Energy is parent of Boston Edison. Commonwealth Energy owns three
electric utilities, including Commonwealth Electric, Cambridge
Electric Light Co. and Canal Electric Co. It also is parent of
COM/Energy Market Inc., a power marketing subsidiary, and owns two
gas companies - Commonwealth Gas Co. and Hopkinton LNG Corp.
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