Approves

In a packed business meeting in which anti-utility sentiments were palpable, California regulators Thursday narrowly (on a 3-2 vote) approved a modified settlement agreement for Pacific Gas and Electric Co. to emerge from bankruptcy, paying off $12 billion to its creditors and regaining an investment-grade credit rating. The action follows a last-minute compromise between the utility and the state’s leading utility consumer group, requiring state legislation to realize an estimated $1 billion in savings for PG&E’s retail electric utility customers.

FERC issued two draft orders Wednesday that grant pipelines the ability to offer discounted rates based on formulas that include the use of basis differentials, which are the difference between two gas price indexes for different locations on the pipeline grid.

A California Superior Court in San Diego late Friday approved the $1.6 billion settlement between El Paso Corp. and four western states, including California. This is the first of two separate court approvals needed before the FERC-approved deal can be made final. Next is a federal district court in San Diego, but the California Attorney General’s office said no date is set for that filing.

FERC put an end to one of the most tortuous cases in its history last Thursday, approving with one modification a $1.7 billion settlement of California’s allegations that an El Paso Corp. pipeline drove up natural gas prices in the state by withholding capacity during the state’s energy crisis, and that it gave preferential treatment to its power merchant affiliate during bidding on transportation capacity.

FERC put an end to one of the most tortuous cases in its history Thursday, approving with one modification a $1.7 billion settlement of California’s allegations that an El Paso Corp. pipeline drove up natural gas prices in the state by withholding capacity during the state’s energy crisis, and that it gave preferential treatment to its power merchant affiliate during bidding on transportation capacity.

EnCana Corp. has obtained, on schedule, approval from the National Energy Board (NEB) for a 51-mile, 24-inch diameter pipeline connection from a hot drilling and development region around Fort Nelson, BC to the northwest mainline of the Nova grid in Alberta.

EnCana Corp. has obtained, on schedule, approval from the National Energy board for a 51-mile, 24-inch diameter pipeline connection from a hot drilling and development region around Fort Nelson, BC to the northwest mainline of the Nova grid in Alberta.

The Federal Energy Regulatory Commission voted last Wednesday to approve a certificate for increased compression to boost capacity on El Paso Natural Gas’ Bondad System by 140 MMcf/d to a total of 725.5 MMcf/d. The additional capacity can be as much as 60 MMcf/d more during the winter.

The Bureau of Land Management (BLM) has approved permits for Gunnison Energy Corp. (GEC) to explore for natural gas at two sites near Somerset, CO. The Denver-based producer, which has been fighting criticism from environmental groups that had held up the permitting process, wants to explore for gas and coalbed methane (CBM).