Accepted

The Commodity Futures Trading Commission (CFTC) on Friday announced the resignation of Chairman James E. Newsome, who has accepted the position of president at the New York Mercantile Exchange (Nymex), according to a statement from the exchange that also was released on Friday. The CFTC said the resignation is effective July 23.

The Commodity Futures Trading Commission (CFTC) on Friday announced the resignation of Chairman James E. Newsome, who has accepted the position of president at the New York Mercantile Exchange (Nymex), according to a statement from the exchange that also was released on Friday. The CFTC said the resignation is effective July 23.

Alaska Gov. Frank H. Murkowski said the state has reviewed and accepted TransCanada Corp.’s application to negotiate a contract to build a natural gas pipeline from the North Slope under the state’s Stranded Gas Development Act.

Alaska Gov. Frank H. Murkowski said the state has reviewed and accepted TransCanada Corp.’s application to negotiate a contract to build a natural gas pipeline from the North Slope under the state’s Stranded Gas Development Act.

Natural gas rates increased effective June 14 for Laclede Gas Co. customers under a scheduled filing reviewed and accepted by the Missouri Public Service Commission. Laclede serves 636,000 gas customers in St. Louis and surrounding Missouri counties. Residential customers on average pay $0.626/therm, and their costs will go up about 9 cents/therm to $0.716/therm. The effect of the proposed rate on a typical residential customer’s gas bill for the remaining summer season will be about $15 more, according to Laclede. Approximately 60% to 75% of a customer’s natural gas bill reflects the cost of natural gas from wholesale suppliers. The wholesale cost of natural gas is not regulated by the commission, and the wellhead cost of gas is unregulated and is primarily driven by supply and demand. The commission conducts an annual regulatory review to ensure that regulated gas companies make prudent decisions in securing natural gas supplies for their customers.

FERC has accepted and suspended for five months a $40.1 million rate hike on Kern River Gas Transmission subject to the result of a hearing. The Commission said the new cost-of-service rates, which total $347.4 million, will be effective on Nov. 1 and in part on June 1, 2005. It denied Kern’s request for fast-track processing of its application.

FERC on Friday accepted and suspended for five months a $40.1 million rate hike on Kern River Gas Transmission subject to the result of a hearing. The Commission said the new cost-of-service rates, which total $347.4 million, will be effective on Nov. 1 and in part on June 1, 2005. It denied Kern’s request for fast-track processing of its application.

National Energy & Gas Transmission Inc. (NEGT) last week accepted TransCanada PipeLines’ $1.7 billion bid to acquire Gas Transmission Northwest Corp. (GTN), which owns the 1,350-mile GTN pipeline in the Pacific Northwest and the 80-mile North Baja system in the Southwest. An NEGT spokeswoman said TransCanada’s bid was the only one submitted.

National Energy & Gas Transmission Inc. (NEGT) reported late Thursday that it has accepted TransCanada PipeLines’ $1.7 billion bid to acquire Gas Transmission Northwest Corp., which owns an 1,350-mile pipeline in the Pacific Northwest and the 80-mile North Baja system in the Southwest. An NEGT spokeswoman said TransCanada’s bid was the only one submitted.