Two senators were assigned Tuesday to the Energy and Natural Resources Committee, Shelley Moore Capito (R-WV) and Tina Smith (D-MN).
Assigned
Articles from Assigned
Petrohawk Was Fast Mover in Eagle Ford, Says Exec
Petrohawk Energy Corp. got into the Eagle Ford Shale and moved fast. Those are the keys to success in shale plays, the company’s vice president of exploration, Charles Cusack, told a Houston audience Wednesday.
PG&E Gets High Marks for ‘Social Investing’
A global consulting firm tracking social investment practices assigned San Francisco-based Pacific Gas and Electric Co. (PG&E) with a triple-A (AAA) rating Thursday for the combination utility’s performance on social, environmental and strategic governance issues compared to peer companies in the utility industry. The announcement coincided with PG&E’s release of its 2007 report on its social responsibility track record.
Star Power Doesn’t Help Hollywood’s Environmental Score
The UCLA Institute of the Environment’s 2006 “Southern California Environmental Report Card” assigned some barely passing grades to the entertainment industry on its environmental mitigation work.
ALJ Endorses ComEd Rate Stabilization Plan
Exelon Corp.’s Commonwealth Edison Co. (ComEd) said Wednesday an administrative law judge assigned to review the utility’s proposal to help customers manage increasing electricity costs has endorsed the plan and has recommended full Illinois Commerce Commission (ICC) approval.
Industry Briefs
Fitch Ratings assigned a AA- rating on $240 million in gas revenue bonds issued by Natural Gas Acquisition Corp. to pay Merrill Lynch Commodities for a 15-year supply of natural gas to serve the City of Clarksville, TN, and Humpherys County Utility District of Humpherys County, TN. Fitch said the rating is based on the transaction’s structure, which includes a corporate guarantee, insurance policies, operating reserves, and certain legal provisions. These factors secure the revenue streams and other funds that pay debt service on the bonds, and under certain circumstances, the full redemption price. The gas volumes represent a portion of the forecasted needs of the two gas distribution utilities. In addition to securing a gas supplier and gas supply for 15 years, the transaction benefits the customers by locking in natural gas costs at a discount to the regional market index price. Under separate gas supply contracts, NGAC will sell a predetermined amount of natural gas to the customers, who are both obligated to take-and-pay for gas as long as it is delivered. The price of the natural gas sold to Clarksville and Humphreys is structured to generate revenues sufficient to pay debt service on the bonds. Bondholders have a security interest in the payments from the customers to NGAC and in the scheduled natural gas from Merrill Lynch Commodities. A Merrill Lynch corporate guarantee secures performance by MLCI, including the delivery of gas.
Murkowski Assigns Chief of Staff to Focus on North Slope Pipe
In an apparent move to have a deal in place before the end of the year, Alaska Gov. Frank Murkowski on Wednesday assigned Jim Clark, his chief of staff, to focus only on developing the North Slope natural gas pipeline project.
S&P Sets Cheniere Credit at Junk Rating
Standard & Poor’s Ratings Services (S&P) said it assigned a “B+” rating to the proposed $500 million senior unsecured notes and corporate credit of liquefied natural gas (LNG) import terminal developer Cheniere Energy Inc. with a stable outlook. S&P analysts said the junk bond rating primarily reflects the risk and uncertainties of the company rather than the operations of its four proposed LNG projects.
Moody’s Warns of Weak Liquidity Position at CMS
Moody’s Investors Service on Friday assigned a “SGL-4” speculative liquidity rating to CMS Energy (CMS) because of its weak liquidity position, unregulated growth initiatives and its continued reliance on asset sales to reduce debt.
Moody’s Warns of Weak Liquidity Position at CMS
Moody’s Investors Service on Friday assigned a “SGL-4” speculative liquidity rating to CMS Energy (CMS) because of its weak liquidity position, unregulated growth initiatives and its continued reliance on asset sales to reduce debt.