Bulk

The staff of the Federal Energy Regulatory Commission denied last Thursday the bulk of the energy industry’s requests to limit the definition of “energy affiliate” as it applies in the agency’s notice of proposed rulemaking (NOPR) on standards of conduct governing the relationships between regulated monopolies and their affiliates.

The California Public Utilities Commission last week unanimously approved a settlement agreement for San Diego Gas and Electric Co. regarding almost $600 million of unpaid wholesale power costs it has accumulated since mid-1999 through Feb. 7, 2001 when the state began buying wholesale electricity.

The Department of Energy (DOE) says that it will fund the bulk of the costs for six new projects to study the exploration and production potential of methane hydrates in the Gulf of Mexico and Alaska’s North Slope region. The total cost of the projects, which will be performed by the energy industry, universities and outside research institutions, has been valued at almost $48 million.

The Department of Energy (DOE) says that it will fund the bulk of the costs for six new projects to study the exploration and production potential of methane hydrates in the Gulf of Mexico and Alaska’s North Slope region. The total cost of the projects, which will be performed by the energy industry, universities and outside research institutions, has been valued at almost $48 million.

Chapter 11-mired Pacific Gas and Electric Co. last week accused the California Department of Water Resources (DWR), the state’s wholesale bulk electricity buyer, of overestimating its forecast of spot power purchase costs through next year by $3.1 billion, including overestimating the price of natural gas used to generate the power supplies.

The parent companies of California’s six largest nonutility generators “profited immensely” from the escalating bulk electricity prices last year, with corporate profits for each more than doubling 1999 levels, according to a new report from the House Committee on Government Reform. Their California power subsidiaries recorded gains in operating income and profits of tenfold or more in 2000, it estimated.

The parent companies of California’s six largest nonutility generators “profited immensely” from the escalating bulk electricity prices last year, with corporate profits for each more than doubling 1999 levels, according to a new report from the House Committee on Government Reform. Their California power subsidiaries recorded gains in operating income and profits of tenfold or more in 2000, it estimated.

Despite numerous press conferences and a lot of hype from political leaders, the bulk of the nearly 10,000 MW in California’s long-term electricity deals still have not been nailed down in formal signed contracts. The agreements are suppose to provide up to 7,000 MW this year and up to 10,000 MW over next 10 years.

FERC’s order requiring potential refunds of up to $69 million on January bulk power sales in California has come under further assault, with San Diego County claiming that the “proxy market clearing price” established by the Commission in the order allows sellers to recover almost double their marginal production costs, and that the decision not to subject sales during non-Stage 3 emergencies to refunds was grossly unfair. It further blasted FERC for not ordering power suppliers to publicly disclose their rates and costs.