Duke/Fluor Daniel said it has been awarded a turnkey contract byPanda Paris Power LP, to provide engineering, procurement,construction and start-up services for a proposed 1,000 MWgas-fired power plant in Paris, TX. “Power from the plant will bedistributed through TU Electric and will be sold to members of theElectric Reliability Council of Texas (ERCOT), the Southwest PowerPool (SPP) and other users,” said a spokesman for Dallas-basedPanda Energy, parent company of Panda Paris Power. Commercialoperation of the combined cycle power plant is scheduled for summer2000. Construction will begin next March.
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Articles from Been
Futures Ride Early Strength to Familiar Level
The $2.08-10 level has been a magnet for November futures pricesthis week, and yesterday was no exception when buyer and sellersmatched up just about evenly to produce a $2.095 settle. Sourcessaid strong selling above $2.10 was enough to thwart the earlymomentum produced from follow-through buying carried over from theWednesday evening Access session. Despite the relatively narrow8-cent trading range, estimated volume registered a hefty 62,079.
Consolidation Increases Pipes’ Power
Advising that pipeline monopoly power has increased with theconsolidation which has been going on over the last several years,Rebecca McDonald, an executive with Amoco and chairman this year ofthe Natural Gas Supply Assoc., warned against a reduction inregulatory oversight.
Futures Fall Lower in Uninspired Trade
In sharp contrast to the frenzy and volatility during the monthof September, October futures trading has been a model ofcomplacency, where one day’s modest gains are another day’s lossesand narrow trading ranges are the rule rather than the exception.The November contract sputtered lower Monday in an “uneventful”trading session to settle at $2.393. Estimated volume was anextremely light 23,667.
Hurricane Uncertainty Leaves Futures Nearly Unchanged
For the last several weeks the futures market has been a modelof volatility where one day’s gains were the next day’s losses.However, the market couldn’t make up its mind yesterday and afterabruptly spiking higher in the morning, ran into overheadresistance and subsequent selling that forced the market lower inthe afternoon. The October contract settled nearly unchanged forthe day at $2.186.
Northern Border Expansion on Track
Industry reports that the start-up of the Canada-to-IllinoisNorthern Border Pipeline expansion, which has been planned forearly December, may be delayed are unfounded, said an officialassociated with the project.
Deregulation Spurring Distributed Power
Deregulation is creating more opportunities for distributedgeneration than there have been since the 1920s, according toconsultant Frost & Sullivan. Although regulatory, technical,economic and environmental hurdles remain, deregulation hasprompted utilities and other energy providers to start offeringdistributed generation as a value-added service to retaincustomers. Also, some industrial and commercial customers arebuying generators to gain independence from electric providers.
GRI Forecasts a 25% Drop in Power Prices by 2015
Although the power industry has been rocked by sharp pricerun-ups this summer, average real electricity prices are projectedto drop by more than 25% by 2015 largely due to improvedefficiencies and cost reductions brought about by electricityrestructuring, the Gas Research Institute (GRI) said in a new studyissued yesterday.
Study Calls Gas Unbundling a ‘Minimal Success’
Given the “slim to non-existent gross margins” for marketers,retail gas unbundling at the state level has been a “minimalsuccess” at best so far, according to the results of a study ofmore than 100 LDCs released earlier this week.
National Fuel Has Open Season
Nation Fuel Gas Supply Corp. is holding an open season for19,100 Dth/d of long-term firm transportation capacity that hasbeen turned backed to its system. The open season will terminate onSept. 11.