Enbridge Inc. announced Monday that it has entered into an agreement with The Williams Companies Inc. to acquire Williams’ 14.6% interest in both the Canadian and U.S. segments of the Alliance Pipeline. The purchase price aggregates approximately C$270 million, representing 1.1 times the book value of the interest.
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CA State Court Agrees to Proceed with El Paso, Sempra Suit
A California state court judge in San Diego Wednesday added to the state energy crisis litigation glut by agreeing that a class action lawsuit against El Paso Corp. and Sempra Energy’s two natural gas utilities can move forward, setting a preliminary trial date of Sept. 4, 2003. At issue are allegations the nation’s largest interstate gas pipeline company and the two Southern California utilities conspired to keep out competing pipelines that would have prevented the severe wholesale gas price spikes at the California-Arizona border in the 2000-2001 time frame.
Enbridge Agrees to Buy Williams Interest in Alliance Pipeline
Enbridge Inc. announced last Monday that it has entered into an agreement with The Williams Companies Inc. to acquire Williams’ 14.6% interest in both the Canadian and U.S. segments of the Alliance Pipeline. The purchase price aggregates approximately C$270 million, representing 1.1 times the book value of the interest.
UtiliCorp Changes to Aquila; Agrees to Buy UK Energy Firm Stake
UtiliCorp United announced last week that it changed its corporate name to Aquila Inc., the energy trading and risk management subsidiary in which it sold an interest to the public in 2001 and then later re-acquired. The company’s common stock now trades on the New York, Pacific and Toronto stock exchanges under the symbol ILA, which has replaced the UtiliCorp symbol UCU.
UtiliCorp Changes to Aquila; Agrees to Buy UK Energy Firm Stake
UtiliCorp United announced Monday that it has changed its corporate name to Aquila Inc., the energy trading and risk management subsidiary in which it sold an interest to the public in 2001 and then later re-acquired. The company’s common stock now trades on the New York, Pacific and Toronto stock exchanges under the symbol ILA, which has replaced the UtiliCorp symbol UCU.
Supreme Court Agrees To Review Order 888
The U.S. Supreme Court last week said it will hear twochallenges to the Federal Energy Regulatory Commission’s landmarkOrder 888 that kicked off competition in the electric market bydirecting utilities to open up their interstate transmissionfacilities.
Supreme Court Agrees to Review Order 888
The U.S. Supreme Court earlier this week said it will hear twochallenges to the Federal Energy Regulatory Commission’s landmarkOrder 888 that kicked off competition in the electric market bydirecting utilities to open up their interstate transmissionfacilities.
SoCal Agrees to Pay Penalty in Storage Sale
In the aftermath of an extremely critical consultant’s report onits handling of a prospective asset sale, Southern California Gashas reached a settlement with one part of the state regulatorycommission and is separately trying to reopen the possible sale ofits smallest Los Angeles Basin underground natural gas storagefacility in an eastern Los Angeles suburb. An administrative lawjudge (ALJ) with the California Public Utilities Commission isconsidering whether to recommend the deal to the full five-memberCPUC.
Transco Agrees to Incremental Pricing of SouthCoast
Transcontinental Gas Pipeline says it’s willing to price itsproposed SouthCoast expansion in Georgia and Alabama at anincremental rate, which should melt away much of the opposition tothe project.
Calpine Agrees to Power Bayer’s TX Facility
Calpine Corp., Texas’ largest independent power producer,announced yesterday plans to build, own and operate an 800 MWnatural gas-fired cogeneration power plant at Bayer Corp.’schemical facility in Baytown, TX. Permitting for the $335 millionfacility is under way, the company said. The plant is expected tobegin commercial operation in late 2001.