Abandoning

Far from abandoning its future North American natural gas focus, Dynegy Inc.’s CEO Chuck Watson said Monday that the company’s purchase of UK-based BG Group PLC’s natural gas storage facilities and assets is only replicating the Houston-based marketer’s successful model, saying it will be the “cornerstone” of its European energy network, providing a “springboard for faster growth” globally.

Abandoning a slower, ongoing auction process under way at theCalifornia Public Utilities Commission, Pacific Gas and ElectricCo. Wednesday asked state regulators to okay a $2.8 billion valuefor its 3,896-MW hydroelectric generating system and its transferto a nonutility PG&E affiliate. PG&E’s utility said it hasreached a settlement with water, consumer, agricultural and utilityemployee union groups.

In an attempt to bring more uniformity to its certificatepolicy, FERC has issued a final rule abandoning itsoptional-certificate (OC) regulations that offered speedierprocessing of pipeline applications for sponsors who were willingto assume all of the risks.

Abandoning straight-fixed variable rate design (SFV) in favor ofone that would permit recovery of some pipeline fixed costs in theusage rate would resolve a lot of the competitive concerns raisedby FERC in its mega-notice of proposed rulemaking (NOPR) and noticeof inquiry (NOI), New York regulators and a coalition of utilitiessaid in separate, yet complementary filings last week.