Acknowledged

Peoples Energy Corp. acknowledged in a 10Q filing with the Securities and Exchange Commission Tuesday that it has received a subpoena from the Illinois attorney general regarding transactions between the company and Enron Corp. or its affiliates.

The staff of the Federal Energy Regulatory Commission and Port of Long Beach, CA, filed notice Monday that they are starting the process of preparing a joint environmental impact report on the proposed Mitsubishi-backed Sound Energy Solutions (SES) liquefied natural gas (LNG) receiving terminal on part of the former U.S. naval base in the port. They will hold a joint “scoping meeting” in Long Beach Oct. 9.

If PJM Interconnection and the Midwest Independent Transmission System Operator (MISO) can fully implement protocols related to seams-related coordination efforts, those protocols will likely minimize the potential to game the differences between locational prices, the market monitors for both regional transmission organizations (RTOs) conclude in a new joint report filed at FERC.

Although it acknowledged political and regulatory factors that continue to be uncertain, Standard and Poor’s Ratings Services reported last Thursday sighting “signs of life” in California’s private-sector utilities. The uncertainties that still cloud the state’s energy picture go well beyond the outcome of the proposed new settlement plan for bankruptcy-bound Pacific Gas and Electric Co., according to S&P brief analysis, “California’s Utilities: Another Step Forward?”

Responding to FERC’s threat to revoke the energy marketing privileges of wrongdoers, Reliant Energy Services acknowledged the actions of its power trader were “plainly wrong,” but it asked the agency for leniency in light of the trading reforms enacted at the company. BP Energy Co. apologized for the misconduct of one of its traders and asked for mercy as well. A group of Enron Corp. power and gas marketers, however, challenged the Commission’s action, claiming it was based on faulty and “ambiguous” charges.

FERC Commissioner Linda K. Breathitt was feted by her colleagues at Wednesday’s regular Commission meeting, which she acknowledged was “very likely to be my last meeting.”

If Houston-based Enron Corp., the acknowledged largest energy trader in the world, had a wish list of things it might want to add to its bartering bag, it might be to trade in this entire year. So far, the news seems to have gone from bad to worse, with business deals gone sour, the CEO abruptly departing last summer, the first quarterly loss in more than four years, rumors of shady business deals, and as of Friday, a plunging stock price that seems to find no floor.

Idacorp’s efforts to unwind the power marketing operations may be hindered after the company acknowledged last week that FERC is considering regulatory action for some marketing transactions between subsidiaries Idacorp Energy and Idaho Power. Apparently, they did not have regulatory approval for some power trading transactions, and also had not gotten formal approval to transfer power contracts. Idacorp said it did not know what sanctions it might face, nor what effect the actions might have on earnings.

In an affidavit filed at FERC last week, Reliant Energy Power Generation and Reliant Energy Services acknowledged that they overscheduled small amounts of energy to delivery points in California “on some occasions” during the critical 2000-2001 period, but they said this practice was both needed and welcomed by the California Independent System Operator (Cal-ISO).