Came

Kentucky-based LG&E Energy and Powergen plc of the UnitedKingdom came one step closer yesterday to completing their sizablemerger. The Federal Energy Regulatory Commission approved themerger sooner than either company expected.

A long and often contentious processes came to a close last weekin Oklahoma with an Oklahoma Corporation Commission (OCC) orderapproving a comprehensive agreement between Oklahoma Natural Gasthe OCC staff and the Oklahoma Attorney General’s office.

The Department of Transportation’s Office of Pipeline Safety(OPS) came under sharp attack last week on Capitol Hill, withcritics lashing out against the agency for its “poor record” ofensuring the safe operation of the hundreds of thousands of milesof natural gas and hazardous liquids pipelines that criss-cross thenation.

The Department of Transportation’s Office of Pipeline Safety(OPS) came under sharp attack yesterday on Capitol Hill, withcritics lashing out against the agency for its “poor record” ofensuring the safe operation of the hundreds of thousands of milesof natural gas and hazardous liquids pipelines that criss-cross thenation.

After rallying to new highs earlier last week, futures cameunder some selling pressure on Friday and prices slipped 0.9 cents,ending the week at $3.079. The high for the day was $3.100, a halfa cent less than the day prior and the low was $3.050 a half a centhigher than Thursday’s low. Despite the somewhat negative news, theMay contract failed to provide observers with a significant signalto start the new week.

This week’s moderate bull market came to an end for the mostpart Wednesday as cash prices bowed under the weight of decliningfutures to range from flat to down a little more than a nickel.

Achieving a vast amount of success in Georgia’s newlyderegulated retail gas industry came at a significant price, SCANAsaid last week as the South Carolina-based company reported 1999earnings of $179 million, or $1.73/share of common stock, down from$223 million, or $2.12/share in 1998.

Except for the still-falling Northeast, Tuesday’s developingmarket plunge came to a complete halt Wednesday and even reverseddirection at several Midcontinent and western points.

The Independent Petroleum Association of America came outstrongly against a tax proposal presented earlier this week byDemocratic presidential candidate Bill Bradley that would do awaywith several loopholes currently benefiting oil and gas producers.