Australian

In a stunning defeat, the Montana Public Service Commission (PSC) unanimously rejected an Australian company’s $2.2 billion bid to buy NorthWestern Energy. The PSC said the purchase would put Montana consumers at risk for higher rates and poor service.

The Montana Public Service Commission (PSC) could decide as early as July 10 whether it will consider a revised merger proposal from Australian investment firm Babcock & Brown Infrastructure (BBI) and South Dakota-based gas and electric utility NorthWestern Energy. Last week the would-be merger partners filed a revised proposal that has garnered at least lukewarm support from some intervenors in the case.

The Montana Public Service Commission (PSC) could decide as early as July 10 whether it will consider a revised merger proposal from Australian investment firm Babcock & Brown Infrastructure and South Dakota-based gas and electric utility NorthWestern Energy. Earlier this week the would-be merger partners filed a revised proposal that has garnered at least lukewarm support from some intervenors in the case (see Daily GPI, June 26).

While the written order for the five-zip rejection last month by state regulators of an Australian investment firm’s bid for NorthWestern Energy has yet to be issued, Gov. Brian Schweitzer left no doubt as to its message, commenting to local reporters: “This is an order that says pack your bags and get on your kangaroo and ride out of here because you’re not going to be in Montana.”

In a stunning defeat, the Montana Public Service Commission (PSC) last week unanimously rejected an Australian company’s $2.2 billion bid to buy NorthWestern Energy. The PSC said the purchase would put Montana consumers at risk for higher rates and poor service.

Australian resources giant BHP Billiton’s proposed liquefied natural gas (LNG) terminal off the Southern California coast from Oxnard begins an uncertain two-week voyage Wednesday with state and federal environmental impact hearings. In the end, two state agencies may end up disagreeing on whether to recommend building the $550 million, 800 MMcf/d project.

Already problematic at the state regulatory level, NorthWestern Energy’s pending $2.2 billion sale to Australian-based Babcock & Brown Infrastructure (BBI) faced a new potential obstacle last Friday from a proposed state law to create a public power entity to potentially take over the utility’s Montana operations if the Public Service Commission (PSC) turns down the BBI purchase later this year. The utility holding company had no immediate reaction to the new state Senate bill (SB 558).

Looking to tap into stranded natural gas in the state of Kentucky, Australian-Canadian Oil Royalties Ltd. (ACOR) said it has signed a general pooling agreement on the Park City Gas Field in Kentucky and also plans to construct a low-pressure gas gathering system to get gas from the project to market.

Looking to tap into stranded natural gas in the state of Kentucky, Australian-Canadian Oil Royalties Ltd. (ACOR) said Monday it has signed a general pooling agreement on the Park City Gas Field in Kentucky and also plans to construct a low-pressure natural gas gathering system to get gas from the project to market.