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Industry Briefs

Industry Briefs

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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