Houston-based Kinder Morgan Inc. (KMI) on Monday upped its third quarter per unit cash distribution of Kinder Morgan Energy Partners LP (KMP) by 29% to an annualized rate of $2.20 ($.55 per quarter) from its current $2.10 ($.525). The distribution, coming a quarter sooner than the company anticipated, will be paid Nov. 14 to unitholders of record as of Oct. 31. The payout, up from $.425 paid in the third quarter of 2000, is the 11th distribution increase since the unit was formed 18 quarters ago.
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Dynegy’s UK Acquisition Improves Global Reach
Far from abandoning its future North American natural gas focus, Dynegy Inc.’s CEO Chuck Watson affirmed last week that the company’s purchase of UK-based BG Group PLC’s natural gas storage facilities and assets is only replicating the Houston-based marketer’s successful model, saying it will be the “cornerstone” of its European energy network, providing a “springboard for faster growth” globally.
FERC Sides with TX QFs on Utility Purchase Obligation
Responding to concerns voiced by several Texas qualifying facilities (QFs), FERC last week affirmed that any company that meets the definition of electric utility under the Public Utility Regulatory Policies Act of 1978 (PURPA) following restructuring in the Lone Star state will continue to have an obligation to purchase power from QFs.
FERC Sides with TX QFs on Utility Purchase Obligation
Responding to concerns voiced by several Texas qualifying facilities (QFs), FERC this week affirmed that any company that meets the definition of electric utility under the Public Utility Regulatory Policies Act of 1978 (PURPA) following restructuring in the Lone Star state will continue to have an obligation to purchase power from QFs.
Indiana Supreme Court Upholds IURC/ProLiance
Vectren Corp. announced that the Indiana Supreme Court hasoverturned an appeals court verdict and affirmed the Sept. 12, 1997order of the Indiana Utility Regulatory Commission (IURC), that thegas supply agreements between utilities Indiana Gas and CitizensGas and Coke and their joint venture marketing affiliate, ProLianceEnergy, are in the public interest.
Indiana Court Upholds IURC/ProLiance
Vectren Corp. announced that the Indiana Supreme Court hasoverturned an appeals court verdict and affirmed the Sept. 12, 1997order of the Indiana Utility Regulatory Commission (IURC), that thegas supply agreements between utilities Indiana Gas and CitizensGas and Coke and their joint venture marketing affiliate, ProLianceEnergy, are in the public interest.
S&P assigns Duke Energy Negative Outlook
Standard & Poor’s today affirmed the ratings of Duke EnergyCorp. and related entities and assigned a negative rating outlook.