Babcock

Offshore oil and gas infrastructure producer and power generation system manufacturer McDermott International Inc. said Monday it plans to separate its operating subsidiaries, Babcock & Wilcox Co. (B&W) on the power side and J. Ray McDermott S.A. (J. Ray) on the oil and gas side, into two independent, publicly traded companies.

Montana regulators had little choice but to reject a 15-month-old effort by Australia’s Babcock & Brown Infrastructure (BBI) to buy South Dakota-based NorthWestern Energy, and the state’s largest private-sector utility now is poised to do just fine on its own, the state’s chief regulator told NGI last week.

Montana regulators had little choice but to reject a 15-month-old effort by Australian-based Babcock & Brown Infrastructure (BBI) to buy South Dakota-based NorthWestern Energy, and the state’s largest private-sector utility now is poised to do just fine on its own, the state’s chief regulator told NGI Wednesday.

A new proposal by Babcock & Brown Infrastructure (BBI) has prompted the staff at the Montana Public Service Commission (PSC) to recommend that the five regulators reopen the utility’s proposed acquisition of South Dakota-based NorthWestern Energy. In May the PSC voted 5-0 to reject the original BBI-NorthWestern marriage proposal (see Daily GPI, May 24).

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).

As FERC examines the proposed acquisition of NorthWestern Corp. by Australian-based Babcock & Brown Infrastructure Ltd. (BBI), Montana and South Dakota state representatives last Monday intervened with different agendas. Montana wants assurances that its retail utility customers will not end up paying for the purchase premium. South Dakota is seeking a 30-day extension to provide time for settlement negotiations with the companies.

As FERC examines the proposed acquisition of NorthWestern Corp. by Australian-based Babcock & Brown Infrastructure Ltd. (BBI), Montana and South Dakota state representatives last Monday intervened with different agendas. Montana wants assurances that its retail utility customers will not end up paying for the purchase premium. North Dakota is seeking a 30-day extension to provide time for settlement negotiations with the companies.

The sale of a Montana electric and gas utility, NorthWestern Energy, to Australian banking group Babcock and Brown Infrastructure (BBI) may be held up as about a dozen groups have filed to intervene in the review of the sale by the Montana Public Service Commission (PSC).

The sale of a Montana electric and gas utility, NorthWestern Energy, to Australian banking group Babcock and Brown Infrastructure (BBI) may be held up as about a dozen groups have filed to intervene in the review of the sale by the Montana Public Service Commission (PSC).