Billions

California could save billions of dollars and reduce the number of new power plants needed in the state by investing more heavily in energy efficiency, according to a new report released last week by Xenergy. The study found California can save up to 3,500 MW of peak demand and net over $8 billion in savings over the next decade by restoring public efficiency funding to just above 1994 levels (adjusted for inflation).

Although it remains optimistic about being able to delay having to post billions of dollars worth of collateral triggered by a series of recent ratings downgrades, NRG Energy last week wasn’t able to rule out the possibility of having to file for bankruptcy if it falls short in its ongoing efforts to obtain waivers or modifications of the massive collateral requirements facing the Xcel Energy subsidiary.

Properties in the gas pipeline and storage segment, among the billions of dollars of assets flooding the market from companies looking to raise cash quickly, offer the most value at the fairest prices, according to Entergy Corp. officials who are studying the possibilities.

Properties in the gas pipeline and storage segment, among the billions of dollars of assets flooding the market from companies looking to raise cash quickly, offer the most value at the fairest prices, according to Entergy Corp. officials who are studying the possibilities hard.

In a saga that could be renamed “The Incredible Shrinking Company,” Enron Corp. told the Securities and Exchange Commission (SEC) in a filing last week that up to 38% of the total assets it listed when it filed for bankruptcy — $24 billion in assets and derivative values — should be erased because of “possible accounting errors or irregularities” that overstated the company’s value. The company also warned of a possible $8-10 billion reduction to unwind some of its derivatives contracts.

In the next five years, Mexican oil monopoly Petroleos Mexicanos (Pemex) needs to spend up to $33 billion on exploration and production activities or its crude and natural gas production could decline by as much as one third, forcing the country to become more of an importer than an exporter, according to the company’s director. Mexico currently is the seventh largest oil producer in the world, and is one of the top three exporters to the United States.