Tag / 2004

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2004

Power Generation, Gas Production Showed Strong 3Q Returns

Power generation and natural gas production operations were the big earners during the third quarter of 2004, while financial and performance results from four other major energy industry segments, including natural gas transportation, gas distribution, power distribution and gas and power marketing were down substantially compared to the same quarter a year earlier, according to a comprehensive analysis by Maryland-based Energy Performance Review (EPR).

January 10, 2005

Fall River, MA, Citizens Seek FERC Meeting, Studies on Weaver’s Cove LNG Project

The leaders of three citizens organizations have called for a face-to-face meeting with FERC Chairman Pat Wood to air their opposition to the proposed liquefied natural gas (LNG) terminals in Fall River, MA, and Providence, RI, according to a published report.

December 30, 2004

Trial Date for Former Reliant Energy Trader Pushed Back to August 2005

The trial date for one of five former natural gas traders who were indicted in late November on charges of reporting false trades has been pushed back to August from February, according to a published report. The trials of four other ex-traders also may be rescheduled.

December 29, 2004

Exelon, PSEG to Form Nation’s Largest Utility through $12.8B Merger

In announcing Exelon’s proposed $12.5 billion merger with NJ-based Public Service Enterprise Group (PSEG) last week, Chairman John Rowe said market power concerns probably will force the combination to divest several thousand megawatts of fossil-fuel and nuclear generation because of its dominance on the PJM grid.

December 27, 2004

Report: Terrorist Attacks on LNG Tankers Could Cause Major Injuries, Damage

Terrorist assaults on tankers transporting liquefied natural gas (LNG) into U.S. ports would likely produce thermal hazards for people who are located a mile away from the site, along with extensive injuries and structural damage from the scorching heat, a new study by government scientists reported last week.

December 27, 2004

Producers: Proposed Open Season Regs for Alaska Pipe Flout Congressional Directive

FERC’s proposed regulations governing the conduct of open seasons on an Alaska natural gas pipeline flout the directive of Congress because they favor the three dominant producers in the state — BP, ExxonMobil and ConocoPhillips, contend competing producers.

December 27, 2004

Exelon, PSEG to Form Nation’s Largest Utility through $12.5B Merger

Exelon Chairman John Rowe expects a few market power questions in the regulatory review of Exelon’s proposed $12.5 billion stock-for-stock merger with Newark, NJ-based Public Service Enterprise Group (PSEG), which was announced on Monday. He said the new company, Exelon Electric & Gas, which will be the largest U.S. combination utility, may have to divest some fossil-fuel and nuclear generation capacity on the PJM grid where it will have a dominant market presence.

December 21, 2004

Producers: Proposed Open Season Regs for Alaska Pipe Flout Congressional Directive

FERC’s proposed regulations governing the conduct of open seasons on an Alaska natural gas pipeline flout the directive of Congress because they favor the three dominant producers in the state — BP, ExxonMobil and ConocoPhillips, contend competing producers.

December 21, 2004

CA LNG Proponents to Run $1 Million Ad Campaign

The major proponents and business backers of California and North Baja California liquefied natural gas (LNG) receiving terminals have joined a business-backed coalition that hired Gov. Arnold Schwarzenegger’s chief political advisor to run a $1 million public relations/advertising campaign. Their aim is to win support from the general public for the import of new gas supplies in the form of LNG.

December 20, 2004

FERC Staff: Mistake by Dominion Storage Clerk Will Cost U.S. Consumers $200M-$1B

FERC staff said Friday that an incorrect e-mail attachment sent by a “clerk” at Dominion Transmission to weekly storage surveyors at the Energy Information Administration (EIA) led to the erroneous storage report last month and subsequent jump in futures prices. FERC staff estimates the error and price run-up cost U.S. consumers $200 million to $1 billion.

December 20, 2004