Begun

Prices were close to a complete turnaround Wednesday from the declines at nearly all points that had begun the week’s trading. Only three Gulf Coast drops of a couple of pennies were left out of flat or higher numbers elsewhere.

Southern Union Co. has begun distributing proxy statements in preparation for a special meeting of shareholders Dec. 9 to vote on the company’s proposed acquisition by Energy Transfer Equity LP (ETE) (see Daily GPI, Aug. 8; July 20). Shareholders of record as of Oct. 11 may vote in person at the meeting in New York City or by proxy. Approval of the merger agreement requires a simple majority of Southern Union’s outstanding shares of common stock. Shareholders who directly or indirectly own 13.4% of the company’s stock already have voted in favor of the agreement. Southern Union’s board of directors also has unanimously recommended the merger’s approval.

With a drilling industry begun in the mid-1800s and modifications to its decades-old oil and gas law in place, Ohio is well prepared for the kind of shale industry growth that has to varying degrees overwhelmed other states, according to Ohio Oil & Gas Association (OOGA) Executive Vice President Tom Stewart.

With a drilling industry begun in the mid-1800s and modifications to its decades-old oil and gas law in place, Ohio is well prepared for the kind of shale industry growth that has to varying degrees overwhelmed other states, according to Ohio Oil & Gas Association (OOGA) Executive Vice President Tom Stewart.

Even before the 2008 nationwide economic recession, natural gas sales in Oregon had begun a slide that continued for at least two years, according to energy statistics for 2010 that were released Friday by the state’s Public Utility Commission (PUC).

A big push begun six to eight years ago among public-sector utilities in California to hedge their bets on natural gas to address growing concerns about wholesale price volatility has come under fire as some municipalities struggle with a recessionary economy and continuing low gas prices.

With eight stations under construction and siting identification work begun for 60 more, a national $150 million effort supported by Chesapeake Energy Corp. is on track to have a corridor of 150 natural gas fueling stations in place in the next few years, according to Andrew Littlefair, CEO of Clean Energy Fuels Corp., speaking on a second quarter earnings conference call that reported increased revenues, but a loss in quarter-over-quarter results.

The Securities and Exchange Commission (SEC) has begun to serve producers active in natural gas shale development with subpoenas, according to Baird Equity Research, which cited an “attorney advertisement” issued by the Houston law firm of Fulbright & Jaworski as its source.

Idaho regulators have begun investigating proposed natural gas and electric generation rate increases for Spokane, WA-based Avista Utilities, which serves 122,500 retail electric customers and 74,200 gas customers in the northern part of the state. Avista is seeking a 3.7%, or $9 million, annual electric rate hike and a 2.7%, or $1.9 million, increase annually on the gas side. Overall, Avista is asking for an 8.49% rate of return and a 10.9% return on equity. The utility asked for an Aug. 5 effective date and the Idaho Public Utilities Commission (PUC)suspended the gas and electric increase requests for six month to allow time for the PUC’s standard review. In the meantime, Avista’s Idaho customers will see rate hikes Oct. 1 — 3.9% on the power side and 0.72% for gas — based on the second-year payment of a settlement for Avista’s general rate case last year. The earlier case increased electric rates 9.25% and gas 1.9% over a two-year period for Avista.