Algonquin

Spectra Energy Inc. recently struck contracts to underpin three major pipeline projects, moving $3 billion worth of investment opportunities for the company into the execution column, a third brand-new pipeline to serve the Florida market among them.

The Delaware River Basin Commission (DRBC) said it has reversed course and now plans to conduct a docket review of two completed natural gas transmission line projects in northeast Pennsylvania, but it is resisting calls from an environmental group to reexamine a third pipeline.

Algonquin Power & Utilities Corp.’s (APUC) regulated distribution utility, Liberty Utilities, has closed its $285 million acquisition of Granite State Electric Co. and EnergyNorth Natural Gas Inc. Ontario-based APUC announced in December 2010 that it would buy the New Hampshire-based businesses from National Grid (see Daily GPI, Dec. 10, 2010) and the deal received final state regulatory approval in May. The gas utility serves 87,000 customers in five counties and 30 communities across the state. Its load and customer count have shown a consistent 1.6% compounded annual growth over the past 10 years, APUC said. The electric distribution company serves 43,000 customers. Last year Liberty said it would pay about $124 million for Atmos Energy Corp.’s regulated gas distribution assets in Missouri, Iowa and Illinois (see Daily GPI, May 16, 2011). That deal has received all necessary federal and state regulatory approvals and is expected to close by Aug. 1, APUC said.

Spectra Energy Corp. said it plans to spend about $1.3 billion on capital expenditures (capex) in 2012 and hopes to continue growing the value of its stock, according to the company’s financial plan for the upcoming year approved by its board of directors on Wednesday.

Algonquin Power & Utilities Corp. (APUC) affiliate Liberty Energy Utilities Co. will pay about $124 million for Atmos Energy Corp.’s regulated gas distribution assets in Missouri, Iowa and Illinois, the companies said Friday.

Spectra Energy Corp. has filed an application at FERC to expand its Texas Eastern Transmission and Algonquin Gas Transmission interstate pipeline systems to serve the New Jersey and New York natural gas markets, the Houston-based company said Monday.

Algonquin Gas Transmission (AGT) will be conducting Department of Transportation-mandated pipeline investigations on its G-System through gas day May 22. During these investigations AGT will be required to lower its operating pressure on the G-system to 575 psig. The pipeline said customers/point operators should be aware of the impact of nonratable takes from the system, which may cause delivery pressures to reach lower than desired levels. Accordingly, AGT requests that customers/point operators in this region minimize nonratable take patterns during this outage.

Algonquin Gas Transmission said its interconnect with Tennessee Gas Pipeline at Mahwah (Meter station 00201) was restricted and sealed to capacity on Friday. No increases in receipts to Mahwah were accepted.

Algonquin Gas Transmission said its interconnect with Tennessee Gas Pipeline at Mahwah (Meter station 00201) for gas day Wednesday has been restricted and sealed to capacity. No increases in receipts to Mahwah will be accepted. Customers are advised that capacity may become available as the nomination and confirmation process continues throughout the day.