Advisory

KeySpan Corp. Tuesday said Institutional Shareholder Services (ISS), the influential proxy advisory firm that advises institutional investors in proxy voting matters, has recommended a vote in favor of KeySpan’s proposed merger with United Kingdom’s National Grid.

It’s deja vu all over again at El Paso Corp., with two major proxy advisory firms recommending this week that shareholders fire the company’s auditor, replace the chief financial officer, and withhold votes against some of the directors. The annual shareholder meeting is set for Nov. 18 in Houston.

It’s deja vu all over again at El Paso Corp., with two major proxy advisory firms recommending this week that shareholders fire the company’s auditor, replace the chief financial officer, and withhold votes against some of the directors. The annual shareholder meeting is set for Nov. 18 in Houston.

Because of moderating weather in its market area, NGPL canceled Tuesday an advisory posting that took effect Sunday (see Daily GPI, March 10) and limited hourly delivery takes.

Referring to its shipper advisory issued Thursday (see Daily GPI, Nov. 4), Northwest announced Monday a customer-specific Declared Overrun Entitlement Period. It applies to “individual customers with markets north of the Kemmerer [WY] Compressor who take more than 10% of their scheduled quantities for the day prior to the day a customer-specific entitlement is imposed.” The entitlements will begin as early as Tuesday (Nov. 5) and continue to apply until further notice, Northwest said. It added that over the last 10 days customers had overscheduled Kemmerer Station by about 260,000 dekatherms.

Dominion has rescinded an OFO prompted by full storage pools and overdeliveries into its system (see Daily GPI, Dec. 7). However, a Nov. 8 “Equalization Advisory,” in which shippers were asked to be sure that receipt and delivery volumes conformed with each other, remains in effect, Dominion said.

Northwest issued a recall advisory to shippers Wednesday and gave notice of a potential OFO and Declared Stage II (8%) Overrun Entitlement. “Net scheduled quantities have regularly exceeded the available physical capacity through the Kemmerer [WY] Compressor Station, even with the additional capacity provided by portable compression,” the pipeline’s bulletin board said. “Forward pricing does not indicate that this overscheduling pressure will decrease during the summer. Northwest has been accommodating the excess quantities by injecting gas into Clay Basin and withdrawing gas from Jackson Prairie. Heavy drafting during the first two weeks of April coupled with the overscheduling since February have depleted Northwest’s Jackson Prairie inventories.” The pipeline plans to use a portion of physical capacity through Kemmerer to realign its balancing storage gas and to move fuel gas as required. If scheduled volumes continue to exceed remaining available physical capacity through Kemererer, the OFO will be issued to be become effective next Tuesday, Northwest said. Because the potential for drafting increases during an OFO, it will concurrently entitle its system for overruns. See the bulletin board for further details.

As a follow-up to its gas quality advisory posted Tuesday (seeDaily GPI, Feb. 28), NGPL listedWednesday 12 points on its Louisiana Line (east of Compressor Station302 in Segments 23, 24 and 25) that are currently exceeding thepipeline’s limit of 1,050 Btus per cubic foot on receipts. EffectiveMarch 1, nominations at those points will not be confirmed untilfurther notice “unless acceptable mitigating actions have beenarranged,”