Board

Florida Gas Transmission went too far in special rate treatmentand terms — not offered to other customers — to get TampaElectric on board for its Phase V expansion, according to FloridaPower. FGT’s current customers would unlawfully be required to bearextra costs and operate under less favorable conditions, FloridaPower told the Federal Energy Regulatory Commission in its protestto FGT’s amendment to its expansion certificate (CP00-40-001).

Florida Gas Transmission went too far in special rate treatmentand terms — not offered to other customers — to get TampaElectric on board for its Phase V expansion, according to FloridaPower. FGT’s current customers would unlawfully be required to bearextra costs and operate under less favorable conditions, FloridaPower told the Federal Energy Regulatory Commission in its protestto FGT’s amendment to its expansion certificate (CP00-40-001).

Baker Hughes announced that Michael E. Wiley, 49, will becomeits chairman of the board, president, and chief executive officeron Aug. 14. The appointment concludes the company’s search for anew chief executive, which began in February. Wiley was presidentand chief operating officer of Atlantic Richfield Company (ARCO)until completion of its sale to BP Amoco in May. Previously, heserved as CEO of Vastar Resources.

Petrobank Energy and Resources gave the board of directors ofRanger Oil an ultimatum yesterday: Give full access to Ranger’sconfidential data room under Petrobank’s terms no later than 5 p.m.(MDT) on Thursday, or Petrobank will not amend or extend its offer toacquire all of the common shares of Ranger. (see Daily GPI, June 9) This would mean Petrobank’sexisting offer would run out next Monday, at 9 a.m. Calgary time.

FERC has sent Dominion Resources and its merged partner,Consolidated Natural Gas (CNG), back to the drawing board to expandthe scope of the pipeline marketing affiliate rule to apply to allenergy affiliates within their corporate family.

FERC sent Dominion Resources and its merged partner,Consolidated Natural Gas (CNG), back to the drawing board last weekto expand the scope of the pipeline marketing-affiliate rule toapply to all energy affiliates within their corporate family. Thisaction is in keeping with the Commission’s crackdown on abusesbetween pipelines and affiliates.

The March contract wandered off a small cliff yesterday whileentering its final week on the board, as spring fever apparentlyreached the Nymex gas pit. The March contract opened with a hugegap lower to $2.555 before cascading down a total of 11.8 cents forthe day and closing at $2.515, slightly above its $2.490 low. TheApril contract closed down 10.6 cents to $2.544, and May dropped 9cents to $2.564.

To the surprise of absolutely no one, cash prices plunged acrossthe board Tuesday. It was an easy call to make considering theresidual effect of Monday afternoon’s steep screen dive and warmingweather trends that are likely to get even warmer next week,sources said.

An industry-wide meeting to discuss whether the Gas IndustryStandards Board (GISB) should develop standards for retail andwholesale power, as well as retail natural gas, has beenre-scheduled for Feb. 14 in Washington D.C.