Approves

Siding with New Jersey Ratepayer Advocate Blossom Peretz’spleadings for moderation, the New Jersey Board of Public Utilities(BPU) at a special meeting last week granted provisional approvalto three utilities for minimum requested rate increases that wouldpass on the rising commodity cost of natural gas.

California regulators have issued emergency authorization forincreased borrowing — up to $2 billion — for SouthernCalifornia Edison to help it pay the bills for this summer’s powerprice spikes.

Siding with New Jersey Ratepayer Advocate Blossom Peretz’spleadings for moderation, the New Jersey Board of Public Utilities(BPU) at a special meeting yesterday granted provisional approvalto three utilities for the minimum requested rate increase to passon the rising commodity cost of natural gas. New Jersey NaturalGas (NJNG) received the 16% it petitioned for, but ElizabethtownGas (ETG) and Public Service Electric and Gas Co. (PSE&G)received far less than requested.

California regulators have issued emergency authorization forincreased borrowing — up to $2 billion — for SouthernCalifornia Edison to help it pay the bills for this summer’s powerprice spikes.

FERC moved its electric power transmission policy into newterritory last week with the approval of DTE Energy’s spin-offtransmission system, International Transmission Co. (ITC), as anindependent transco with rates similar to those of a regionaltransmission organization (RTO). (ER00-3295)

Although its requests were partially met last week by theFederal Energy Regulatory Commission, the New York IndependentSystem Operator got an earful from FERC Commissioners, including anultimatum to get its systems in proper working order or have itsauthority taken away.

Williams’ Transco pipeline has received approval for itsSouthCoast Expansion, a project to deliver up to 204 MMcf/d ofadditional supplies starting in November, primarily in Georgia andSouth Carolina. The Federal Energy Regulatory Commission issued acertificate for the project last Monday, accepting Transco’salternate incremental rate scheme, requiring signed 15-yearcontracts for 100% of capacity, and dismissing protests (see FERCDocket CP99-392)

Rhode Island’s Providence Energy Corp. shareholders votedoverwhelmingly last week to approve a proposed merger with Austin’sSouthern Union Co. First announced last November, the proposedmerger is on track for regulatory approval by late this summer.ProvEnergy shareholders would be paid $42.50 per share with themerger.

Williams’ Transco pipeline has received approval for its SouthCoastExpansion, a project to deliver up to 204 MMcf/d of additionalsupplies starting in November, primarily in Georgia and SouthCarolina. The Federal Energy Regulatory Commission issued acertificate for the project Monday, accepting Transco’s alternateincremental rate scheme, requiring signed 15-year contracts for 100%of capacity, and dismissing protests (see FERC Docket CP99-392)