After agreeing to unload its electric subsidiary last week to OrionPower Holdings for about $200 million plus the assumption of debt,Columbia Energy Group announced that it has found a buyer for itselectric subsidiary’s interests in four power generation QualifyingFacilities (QF). The interests, which were excluded from the Oriondeal, will be sold to a partnership between Morristown, NJ,-basedDelta Power Co. and John Hancock Life Insurance for an undisclosedamount (see Daily GPI, Oct. 3).

Columbia Electric’s interest in the following operatingfacilities were included in the sale:

Columbia withheld these holdings from the Orion deal, but stillneeded to sell them due to its pending merger. Under the PublicUtility Regulatory Policy’s Act of 1978 (PURPA), no more than 50%of an equity interest in a QF can be held by an electric utility,or an electric utility holding company. Columbia currently is notan electric utility holding company by way of PURPA’s test, but asa result of its merger with NiSource, its interests in QFs wouldbe held indirectly by an electric utility holding company.

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