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Calpine Corp., a San Jose-based independent power company,announced plans to build, own and operate a 540-megawatt gas-firedpower plant in Westbrook, ME. Calpine acquired development rightsfor the Westbrook Power Plant from Genesis Power Corp. of Needham,MA. Construction of the $300 million facility is scheduled to beginlater this month. The plant, which will burn about 90 MMcf/d, isscheduled to begin power deliveries as early as November 2000 andwill serve the New England market. Westbrook is Calpine’s fourthcombined-cycle facility under development in the New Englandmarket.

TPC Corp. is changing hands yet again. This time NIPSCOIndustries subsidiary NI Energy Services is buying Houston-basedTPC for $132.5 million from PacifiCorp. The deal also involves apayment for working capital to be determined at closing. NI EnergyServices also gets PacifiCorp’s 66% interest in Market Hub PartnersLP (MHP)

Calpine Corp. of San Jose, CA, and North Dartmouth-MA basedEnergy Management Inc. formed a new power marketing joint venture,Calpine/EMI Marketing, LLC, which will sell power and transmissioncapacity in New England from new generation facilities in theregion.

Calpine Corp. has raised $265 million to complete constructionof a 510 MW expansion of its Pasadena, TX, power plant. Calpine,based in San Jose, CA, and the largest independent power producerin Texas, broke ground on the Pasadena plant expansion in November.The company expects to begin electricity production in June 2000 tohelp meet peak summer demand. The Pasadena plant currentlygenerates up to 240 MW of capacity. With the expansion, it willgenerate enough electricity to power 750,000 households.

The Chicago Mercantile Exchange announced Thursday it has filedfor regulatory approval to offer exchange-traded, heating degreeday (HDD) and cooling degree day (CDD) futures and optionscontracts. The CME said these indexes will help companies manageweather-related financial risks. A start date will be set afterCommodity Futures Trading Commission (CFTC) approval.

South Jersey Gas Co. has signed an agreement with WeatherwiseUSA allowing the New Jersey LDC to offer its retail gas customers aWeatherProof Bill. The bill, which is based on historical gas usepatterns, utility rates, average temperatures, and administrativecosts, fixes a customer’s total gas costs for 12 months withouthigh settle-up charges to cover any excess gas use.

Recent decisions by FERC and Utah regulators involving theextent of their jurisdiction over the interstate transportationrole of Questar Gas, a Utah-based LDC, don’t appear to becontradictory, say lawyers and company officials.

Low commodity prices have driven Bartlesville, OK-based PhillipsPetroleum Co. to cut 1,400 jobs and costs and increase availablecash flow in 1999. “We don’t anticipate margin improvements in thenear term, therefore we are adjusting our plans accordingly,” saidCEO Wayne Allen. “The changes will impact our level of operatingcosts, staffing requirements and capital spending. We are takingthese steps to improve our financial performance and create valuefor our shareholders.”

Houston-based Seagull Energy Corp. said it garnered about $52.5million in gross proceeds from asset dispositions made during thefinal months of 1998. The money will be used to cut debt.