Approved

California Moves to Add Competitive Gas Storage

California regulators Thursday approved a 50% increase in the working capacity of one of the state’s largest merchant-based underground natural gas storage facilities, Wild Goose Storage LLC, which is about 50 miles north of Sacramento.

July 1, 2013

Industry Briefs

The Washington Utilities and Transportation Commission (UTC) has approved a multi-year rate plan for Puget Sound Energy (PSE) to increase annual limits for natural gas and electricity rates over the next three to four years. PSE’s gas rates would increase by $9.1 million, or 1.55%, and power rates would increase by $52.3 million, or 3.34%, effective Monday (July 1). Rates may increase over the period by a maximum of 3%, with any excess amounts recovered the following year. Also as part of the approval, UTC separated utility profits from sales levels. The so-called “decoupling” allows the utility to recover fixed costs regardless of how much gas and electricity it sells.

June 27, 2013

DOE’s LNG Export Queue Called ‘Unlawful’

The U.S. Department of Energy’s (DOE) queue for deciding liquefied natural gas (LNG) applications is arbitrary and unlawful, said Center for Liquefied Natural Gas President Bill Cooper.

June 19, 2013

House Panel Passes Offshore Bill Over Democrats’ Objections

Republicans on the House Natural Resources Committee Wednesday approved legislation that would expand offshore energy production to include the East and West Coasts, and would extend revenue-sharing to all coastal states.

June 13, 2013

New Gas-Fueled Power Plant Set for Oregon

As part of its multi-sourced, multi-year integrated resource plan (IRP) approved by state regulators three years ago, (PGE) said Monday it has signed deals to develop a 440 MW natural gas-fired electric generation plant in Oregon, along with new wind power and electric transmission.

June 5, 2013

Industry Briefs

Gulf of Mexico explorer McMoRan Exploration Co. (MMR) is no longer a publicly traded stock after shareholders on Monday (June 3) approved a merger with a subsidiary of affiliated conglomerate Freeport-McMoRan Copper & Gold Inc. Under a friendly agreement in late 2012, Freeport agreed to pay close to $3 billion for MMR and more than $9 billion including debt for Plains Exploration & Production Co.; the Plains deal closed at the end of May (see Daily GPI, June 3; Dec. 6, 2012). Freeport Chairman Jim Bob Moffatt co-chaired McMoRan with Freeport CEO Richard Adkerson. MMR shareholders are to receive $14.75/share in cash, or $2.2 billion for shares not owned by Freeport, as well as 1.15 units in Gulf Coast Ultra Deep Royalty Trust, which would hold a 5% overriding royalty stake in future output from 20 specified ultra-deep exploration targets.

June 4, 2013

NatGas Modernization Plan Awaits Illinois Governor’s Signature

The Illinois Senate approved legislation Tuesday that supporters say could accelerate rebuilding aging natural gas delivery infrastructure over the next 10 years while maintaining regulatory oversight.

May 31, 2013

Industry Briefs

The Pennsylvania Public Utility Commission approved petitions of Peoples Natural Gas Co. and Peoples TWP to implement long-term infrastructure improvement plans (LTIIP) in addition to a distribution system improvement charge. Peoples is to replace an average of 47 miles of pipeline per year during the five-year period of the LTIIP. Peoples plans to spend between $55 million and $71 million per year on pipeline, meter and service replacement over the five-year period. Peoples TWP is to replace an average of 28 miles of pipeline per year during the five-year period. Peoples TWP anticipates spending a minimum of $9.1 million per year over the five-year plan.

May 24, 2013

Ninth New NatGas Power Plant Approved for Pennsylvania

The Pennsylvania Department of Environmental Protection (DEP) recently approved plans by a subsidiary of LS Power to build a 900 MW natural gas-fired power plant about 50 miles northwest of Pittsburgh, bringing to nine the number of gas-fired plants proposed in and around the state’s Marcellus Shale resource.

May 20, 2013

Ninth New NatGas Power Plant Approved for Pennsylvania

The Pennsylvania Department of Environmental Protection (DEP) recently approved plans by a subsidiary of LS Power to build a 900 MW natural gas-fired power plant about 50 miles northwest of Pittsburgh, bringing to nine the number of gas-fired plants proposed in and around the state’s Marcellus Shale resource base.

May 20, 2013