Burden

Taking into account TXU Corp.’s already high leverage and the added debt burden from its newest financial deals, Fitch Ratings and Moody’s Investors Service downgraded the Dallas utility giant and its subsidiaries on Friday. However, Fitch revised the outlook to “stable” from “negative”; Moody’s kept its “negative” outlook. Standard & Poor’s Ratings Services (S&P), meanwhile, praised TXU’s fast action to bulk up its liquidity, and the credit analysts believe the company has adequate liquidity for any problems that may arise in 2003.

The best way to ease the burden of high natural gas costs is tolet producers produce and not overly regulate generators, industryofficials told the Texas Railroad Commission this week. The TRC,which is preparing recommendations on the state’s natural gasmarket, will hear testimony from stakeholders again Thursday beforefinalizing its recommendations for state legislators.

Working to find ways to ease the burden of high gas prices on its constituents, the Georgia Public Service Commission (GPSC) unanimously approved an additional $50 refund for low-income senior citizens on their bills for March. Low-income seniors are already receiving $10 refunds on their January, February and March bills, while all consumers are receiving $14 refunds on their February and March bills.

Working to find ways to ease the burden on its constituents, theGeorgia Public Service Commission (GPSC) unanimously approved anadditional $50 refund for low-income senior citizens on theirnatural gas bills for March. Low-income seniors are alreadyreceiving $10 refunds on their January, February and March bills,while all consumers are receiving $14 refunds on their February andMarch bills.

Sen. Frank Murkowski (R-AK), chairman of the Senate Committee onEnergy and Natural Resources, consolidated several recentlegislative measures and a few new ones into two separate pieces oflegislation last week that could have a wide ranging impact on theexploration and production sector.

FERC yesterday ruled that Koch Gateway Pipeline failed to meetthe burden of proof in its request for market-based rate fortransportation services, causing it to reverse a 1997 initialdecision by an administrative law judge.