Consumers and utilities continued to butt heads in Californialast week over how to deal with almost $5 billion in uncollectedrevenues by the state’s three major investor-owned utilities in thewake of this summer’s wholesale electricity price spikes. Withretail rates frozen the utilities have only collected a portion ofthe added cost of power since May. Consumer activists in SanFrancisco and San Diego last week launched a campaign against theutilities seeking pledges from political candidates throughout thestate to oppose attempts to raise consumer rates to recoverutilities’ costs.
Almost
Articles from Almost
CA Utilities Seek $5 Billion from Consumers
Consumers and utilities continued to butt heads in CaliforniaTuesday over how to deal with almost $5 billion in uncollectedrevenues by the state’s three major investor-owned electricutilities in the wake of this summer’s wholesale electricity pricespikes.
UGI to Acquire Portions of Conectiv’s Marketing
UGI Corp. announced Friday that its energy marketing subsidiaryhas agreed to acquire almost all of Conectiv’s commercial andindustrial marketing business. The acquisition by UGI EnergyServices is expected to be completed on Oct. 1.
Peachtree Files Suit Against AGL
The first of the marketers to bow out of natural gas deregulation in Georgia is going on the offensive almost a year after the company filed for bankruptcy. Peachtree Natural Gas which is still in bankruptcy court, filed a $50 million suit against AGL Resources, Atlanta Gas Light and billing provider Utilipro in the State Court of Fulton County.
Peachtree Files Suit Against AGL and Affiliates
The first of the marketers to bow out of the natural gasderegulation era in Georgia is going on the offensive almost a yearafter the company filed for bankruptcy. Peachtree Natural Gas whichis still in bankruptcy court, filed a $50 million suit against AGLResources, Atlanta Gas Light and billing provider Utilipro in theState Court of Fulton County.
Plains Resources Settles Class Action Suit
Almost a year after Plains Resources and its subsidiary, PlainsAll American Pipeline L.P., were allegedly involved in”unauthorized trading,” the companies announced yesterday that theyhave reached an agreement in principle for the settlement of twoclass action securities suits. The companies have agreed to payaffected shareholders a total of $29.5 million plus interest forthe unauthorized trading loss disclosed in November 1999.
PG&E Corp.’s Harquahala Almost a Reality
PG&E Corp. moved another step closer to full approval of its proposed natural gas-fired 1,040 MW natural gas-fired plant to be located in Maricopa County, AZ. The Maricopa County Board of Supervisors unanimously approved a special use permit for the pending electric generation facility to be positioned near Phoenix.
Hurricane Alberto Has Bulls Seeing Double
In almost an exact blueprint of Friday’s topsy-turvy session,natural gas futures spiked then retraced yesterday as tradersdigested the latest weather news. After gapping higher at the openand putting in a fresh one-month high at $4.43, the Septembercontract succumbed to profit-taking which ushered the prompt monthlower at the close. September finished at $4.348, up 5.2 cents forthe session, but just a fraction of a cent above its low on theday.
Prices Slightly Softer Except for Big PG&E Citygate Dip
This week’s price slide almost, but not quite, came to a haltWednesday. Some points were flat and a few managed small upticks,but those were outweighed by small declines that only rarelysurpassed a nickel.
Cash Crash Likely After Screen Acts Bearish on Storage
Pardon the cash market if it was getting that old sensation ofdeja vu Wednesday. In an almost exact repeat of a week earlier,prices were rising somewhere in the vicinity of a dime in mostcases; but once again the screen took a dive following theafternoon storage report, prompting sources to predict today’strading will emulate the double-digit declines of last Thursday.