California regulators have approved a general rate case settlement agreement for Pacific Gas and Electric Co. (PG&E) for 2017-2019 that includes an $88 million (1.1%) increase this year, pushing the San Francisco-based combination utility's overall authorized revenue level to slightly above $8 billion. The settlement includes small decreases for natural gas and electric distribution operations and a $153 million increase for electric generation this year, while authorizing collective increases of more than $800 million for the subsequent two years -- $444 million (5.5%) next year and $361 million (4.3%) in 2019. The California Public Utilities Commission (CPUC) noted that the revenue levels would allow PG&E to provide "safe, reliable service." CPUC President Michael Pickercalled the settlement "a compromise" that significantly reduces a revenue requirement that was originally sought by PG&E.
InterGen said it plans to launch a sales process soon for its Mexican business interests. The company is one of the largest independent power producers in Mexico with more than 2,200 MW in operation with six combined-cycle gas turbine plants throughout the country. The portfolio includes a new 220 MW combined-cycle plant, San Luis de la Paz, and a 155 MW wind farm with partner IEnova, Energia Sierra Juarez, which reached commercial operations in 2015. InterGen also owns and operates three compression stations and one 65-kilometer (40-mile) natural gas pipeline in Mexico.
The U.S. Bankruptcy Court for the Southern District of Texas has approved Azure Midstream Partners LP's liquidation plan, which is expected to become effective June 2 [No. 17-30461]. After Azure filed for bankruptcy an affiliate ofEnterprise Products Partners LP (BTA Gathering LLC) in March agreed to acquire its assets.
Texas Gov. Greg Abbott signed HB 1818, which reauthorizes the Railroad Commission of Texas (RRC), the state’s primary oil and natural gas regulator, for another 12 years. The bill was approved by the state Senate earlier in May. “...Gov. Abbott has ensured regulatory certainty for the Texas oil and gas industry and strengthened oversight of energy development in the Lone Star State,” said Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association.The exploration and production sector “is the key economic driver in the state of Texas, providing employment for hundreds of thousands of Texans and generating tax revenue that supports all aspects of the economy, including education, public safety, water conservation, and infrastructure development.