Other analysts covering Barrett also said they expect to seeadditional consolidation of U.S. independents with a heavy gasportfolio, especially now that the majors and larger independentsare flush with cash from through-the-roof commodity pricing in thepast year.
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Aquila Acquires 10 GE Turbines
Aquila Inc., a wholly owned subsidiary of UtiliCorp United,announced yesterday that it has entered into an agreement topurchase an additional 10 natural gas-fired turbines from GeneralElectric (GE). Combined with previously announced agreements,Aquila has ordered a total of 21 turbines over the past 12 months.
CPUC Votes to Keep Gas Flowing
A special session yesterday of California’s regulators gavePG&E’s utility authority to amend its gas supply deals to keepsupplies flowing to the state past Feb. 7 when the current federalDOE emergency order expires, but it postponed action on anotherPG&E request that Southern California Gas Co. — which hasstrongly objected — be compelled to provide emergency supplies tothe PG&E utility’s residential and small business customers.
Clinton Releases More LIHEAP Funds to States
President Clinton has ordered the release of an additional $300million in funds to help low-income households cope with risingheating bills this winter, and announced four steps to tackle theenergy shortages and high prices in California, Washington andOregon.
Clinton Sends States More LIHEAP Funds
President Clinton over the weekend ordered the release of anadditional $300 million in funds to help low-income households tocope with rising heating bills this winter, and announced foursteps to tackle the energy shortages and high prices in California,Washington and Oregon.
Transco’s SouthCoast Expansion Comes Online
The Transco pipeline system’s capacity has increased by 204,099Dth/d with the start-up of the SouthCoast Expansion project. The$108 million expansion provides additional firm transportationcapacity to gas markets in Alabama and Georgia
SDG&E Gets Authority to Sign Bilateral Deals
The California Public Utilities Commission Thursday tookadditional action to build backfires against retail electricityprice shock by authorizing San Diego Gas and Electric to inkbilateral power supply deals outside of the state (Cal-PX)wholesale spot electricity market. In anticipation of CPUC action,SDG&E earlier had released a request for proposals, and willmost likely repeat that action, according to officials with SempraEnergy, SDG&E’s parent company.
CA Utilities Get More Hedging Options
California regulators Thursday approved additional participationby the state’s major electric utilities in the California PowerExchange’s new block-forward markets for ancillary and otherservices. Normally just a footnote, the action drew considerableattention by the California Public Utilities Commission’s fivegovernor-appointed members in light of the recent power crunch inthe state.
CA Regulators Give Utilities Okay for More Block-Forward Action
California regulators last week approved additionalparticipation by the state’s major private sector electricutilities in the California Power Exchange’s new block-forwardmarkets for ancillary and other services. Normally just a footnote,the action drew considerable attention by the California PublicUtilities Commission’s five governor-appointed members in light ofthe recent power crunch in the state.
Industry Briefs
TransCanada PipeLines Ltd., through its wholly-owned subsidiary,TransCanada OSP Holdings Ltd., reported last week it has purchasedan additional 29.9% interest in an Ocean State Power (OSP) plantfrom National Grid USA for an estimated $61 million, bringing itsfull ownership interest in the OSP facility to 100%. Thetransaction is expected to close by September, pending regulatoryapprovals. The 560 MW, combined-cycle plant, which is located inBurrville, RI, is considered one of the largest gas-firedfacilities in the Northeast region. It is fueled by 100 MMcf/d ofgas from western Canada.In addition to full ownership in the OSPplant, TransCanada announced last week that it plans to build twonew gas-fired co-generation plants in Alberta.TransCanada PowerL.P. owns a total of six power plants in Ontario, British Columbiaand New York State, with a seventh plant nearing completion.