Acted

A federal appeals court in Washington, DC, Friday said FERC acted reasonably when it decided to reclassify as unregulated gathering only a portion of the “massive” network of pipeline facilities that Transcontinental Gas Pipe Line Corp. sought to spin down to affiliate Williams Gas Processing-Gulf Coast Co. (WGP).

A federal appeals court in Washington, DC, Friday said FERC acted reasonably when it decided to reclassify as unregulated gathering only a portion of the “massive” network of pipeline facilities that Transcontinental Gas Pipe Line Corp. sought to spin down to affiliate Williams Gas Processing-Gulf Coast Co. (WGP).

An exhaustive, six-month investigation by a law firm retained by a special committee to Westar Energy’s board of directors did not turn up any evidence of accounting fraud at the Kansas-based power company, according to a 376-page report that was prepared for the company’s board and publicly released by Westar last Thursday.

Rising energy prices have acted like a tax on businesses and consumers and have not received enough attention as a cause of the U.S. economic slowdown, Federal Reserve Board Chairman Alan Greenspan told International Monetary Conference delegates in Singapore last week. However, with oil and natural gas prices declining, he expects less pressure on businesses and consumers.

Rising energy prices have acted like a tax on businesses and consumers and have not received enough attention as a cause of the U.S. economic slowdown, Federal Reserve Board Chairman Alan Greenspan told International Monetary Conference delegates in Singapore yesterday. However, with oil and natural gas prices declining, he expects less pressure on businesses and consumers.

The New York State Public Service Commission has acted to eitherfreeze or decrease the distribution portion of charges to naturalgas customers of Niagara Mohawk Power through Aug. 31, 2003 as partof a multi-year rate and restructuring plan.

The New York State Public Service Commission has acted to eitherfreeze or decrease the distribution portion of charges to naturalgas customers of Niagara Mohawk Power through Aug. 31, 2003 as partof a multi-year rate and restructuring plan.

FERC acted on a number of other key items last week, includingthe Gas Research Institute’s (GRI) budget, new firm transportationservices on Transcontinental Gas Pipe Line’s production-area supplylaterals, and tariff sheets enabling Tennessee Gas Pipeline toenter into certain types of discount agreements with customerswithout first getting prior approval.