Atlantic

The national pipeline expansion frenzy continued last week with Tennessee Gas Pipeline announcing a certificate application with the Federal Energy Regulatory Commission (FERC) to add new pipeline capacity in New England at its connection with the Maritimes & Northeast pipeline, which imports Canadian gas produced offshore Nova Scotia at the Sable Offshore Energy Project.

The national pipeline expansion frenzy continued this week with Tennessee Gas Pipeline announcing a certificate application with the Federal Energy Regulatory Commission (FERC) to add new pipeline capacity in New England at its connection with the Maritimes & Northeast pipeline, which imports Canadian gas produced offshore Nova Scotia at the Sable Offshore Energy Project.

Uniform electricity markets across the Northeast and Mid-Atlantic regions moved one step closer to becoming reality last week as electricity market administrators, Independent System Operator (ISO) New England Inc. and PJM Interconnection LLC, reported that they have teamed up with systems developer ALSTOM ESCA Corp. to formalize an agreement that will standardize their electricity markets. The ISOs also believe the model could be adopted by wholesale markets across the country.

Uniform electricity markets across the Northeast andMid-Atlantic regions moved one step closer to becoming reality onThursday as electricity market administrators, Independent SystemOperator (ISO) New England Inc. and PJM Interconnection LLC,reported that they have teamed up with systems developer ALSTOMESCA Corp. with the intent to formalize an agreement that willstandardize their electricity markets. The ISOs also believe themodel could be adopted by wholesale markets across the country.

Corporate energy managers in New York, New England and theMid-Atlantic overwhelmingly think that rising energy prices willadversely affect the U.S. economy this year and more than halfexpect the rising costs to hurt their businesses, according to asurvey conducted in late January for PSEG Energy Technologies ofEdison, NJ.

Corporate energy managers in New York, New England and theMid-Atlantic overwhelmingly think that rising energy prices willadversely affect the U.S. economy this year and more than halfexpect the rising costs to hurt their businesses, according to asurvey conducted in late January for PSEG Energy Technologies ofEdison, NJ.

Southern Energy Inc. took a giant leap into the Mid-Atlanticpower market yesterday by completing the purchase of 5,154 MW ofpower generation from Potomac Electric Power Company (Pepco) for anet price of $2.65 billion.

The BP Amoco and Atlantic Richfield Co. (ARCO) merger isofficially complete. BP Amoco will deliver to former ARCO holders,for each share of common stock owned, 1.64 American depositaryshares (ADS) of BP Amoco. Alternatively, if properly elected, ARCOcommon stock holders can receive BP Amoco ordinary shares. Cashwill be paid for fractional share interests. BP Amoco ADSs trade onthe New York Stock Exchange and other North American exchangesunder the symbol BPA with one ADS representing six ordinary sharestraded on the London Stock Exchange. Existing BP Amoco ADR holdersand existing ARCO preference stock holders do not need to take anyaction with respect to this transaction.

Kerr-McGee Corp. has bought a 50% stake in four explorationlicenses covering 1.5 million acres offshore Nova Scotia, Canada,from Canadian 88 Energy Corp. for $10.5 million. The deepwaterexploration prospects are located 125 miles south of Halifax inwater depths from 500 to 9,200 feet.