Energy America, the Sempra Energy affiliate that was forced by NewJersey’s Board of Public Utilities (NJBPU) to halt retail activitiesbecause of slamming charges last December, reached a final agreementwith the NJBPU and New Jersey Division of Consumer Affairs (NJDCA)that will allow it to resume efforts to sign up New Jersey residentialand small-business customers. Under the settlement, Energy Americawill contribute $140,000 each to the NJBPU and NJDCA to furtherconsumer education on energy deregulation and to fund futureinvestigative and enforcement activities. By March Energy America willbegin to deliver electricity to its customers, when local utilityPublic Service Electric & Gas is expected to complete theelectronic switchover for customer accounts. After the Sempraaffiliate halted its activities in December, it spent five weeksrevising its marketing and training materials (see Daily GPI, Jan. 21)
Board
Articles from Board
Oneok Calls Off Merger with Southwest Gas
ONEOK said last week that its board of directors has voted toterminate its planned merger with Southwest Gas. The terminationdecision was made pursuant to a provision in the merger agreementthat permitted any party to terminate if certain conditions werenot fulfilled by December 14, 1999. ONEOK notified Southwest of thetermination late last week.
Avista Hits the Technology High Road
Avista Corp., based in Spokane, WA, got on board the technologystock express last week as Washington state neighbor Bill Gatestook a 5% stake in the company and Avista’s stock price just aboutdoubled.
Avista Hits the Technology High Road
Avista Corp., based in Spokane, WA, got on board the technologystock express last week as Washington state neighbor, Bill Gatestook a 5% stake in the company and Avista’s stock price just aboutdoubled.
Utility Watchdog: Guardian Good for Competition
The Citizens Utility Board (CUB) , a Wisconsin non-profitorganization dedicated to ensuring public representation forresidential, farm and small business utility customers, is thelatest entity to choose sides in the ongoing battle betweenCoastal’s ANR Pipeline and the Guardian Pipeline Project. Theconsumer “watchdog” organization voiced its support for Guardianpublicly yesterday, saying the project will provide gasdistribution competition to a state that sorely needs it.
KCBT Converting Western Contract to Basis
Hoping to stir up liquidity on its western gas futures contract,The Kansas City Board of Trade (KCBT) filed Oct. 8 with theCommodity Futures Trading Commission (CFTC) to convert the contractfrom flat-price to basis. The exchange plans to begin trading basisfutures with the February 2000 contract month upon CFTC approval.The expected start date of basis futures is Nov. 29.
KCBT Converting Western Contract to Basis
In a move it hopes will boost liquidity on its western gasfutures contract, The Kansas City Board of Trade (KCBT) filedFriday with the Commodity Futures Trading Commission (CFTC) toconvert the contract from flat-price to basis. The exchange plansto begin trading basis futures with the February 2000 contractmonth upon CFTC approval. The expected start date of basis futuresis Nov. 29.
Southern Union Picks Up MA LDC
Blocked in its bid for neighboring Southwest Gas, Austin,TX-based Southern Union Co. focused on the East, picking upapproval from its board of directors and that of the Fall River GasCo., on a merger agreement.
Transportation Notes
After advising on its bulletin board Monday that it wasmonitoring conditions for the necessity of an OFO, Florida GasTransmission issued an Overage Alert Day notice Tuesday due to highmarket-area demand. The notice applies to the system east ofStation 12 (Santa Rosa County in the Florida Panhandle) and carriesa 4% tolerance for negative daily imbalances. The pipeline willdecide this morning whether to extend the notice through today’sgas day.
Go Back to Drawing Board on OCS NOPR, FERC Told
Neither the interstate pipelines nor gas producers wereparticularly enamored of FERC’s latest attempt to create a morebalanced, lighter-handed system for regulating gas pipelines on theOuter Continental Shelf (OCS). They both agree the Commission fellshort of its goal in the July proposed rulemaking.
