Capture

In preparation of its US$8.5 billion merger with Duke Energy (see Daily GPI, Sept. 21), Westcoast Energy Inc. announced two divestitures, including an agreement to sell its Centra Gas units to BC Gas Inc. for C$208 million and another deal worth C$176.7 million, which sends its Ontario-based Union Energy and Westcoast Capital energy services companies to the City of Edmonton’s Epcor Utilities Inc.

In an attempt to capture the price discovery offered in therapidly expanding electronic exchange market, NGI added a new pricereport to its daily publication, NGI’s Daily Gas Price Index, andto its website. “NGI’s Electronic Platform Trading Index” will becomprised of deals done each morning before 11:30 a.m. (CST) andwill be published on its website at http://intelligencepress.com by1 p.m. (CST) each business day and in NGI’s Daily Gas Price Indexthe following day.

In an attempt to capture the price discovery offered in the rapidlyexpanding electronic exchange market, NGI is adding a new price reportto its website. “NGI’s Electronic Platform Trading Index” will becomprised of deals done each morning before 11:30 a.m. Central Timeand will be published on its website at http://intelligencepress.com by 1 p.m. Central Time each business day.

Marking its initial promotion to capture some of the residentialgas market in Georgia, Southeastern States Energy, Inc. (SSE)announced a partnership with PowerTrust.com, an Internet-basedpower services company, to offer customers the ability to sign withSSE through the PowerTrust.com web site. Although the GeorgiaPublic Service Commission (GPSC) will decide market share for thestate’s suppliers on Aug. 11, Beth Perry Sewell, president of SSE,said there is still time to be successful in the Georgia market.

Pennaco Energy increased its capital expenditure budgetWednesday from $18.4 million to $26.5 million in a move intended tocapture the “hottest domestic onshore play” in the country. All ofthe revised budget will be invested in Powder River Basinoperations.

In an effort to capture the rewards and pass along savings madepossible by performance-based rates, NIPSCO Industries and its newaffiliate, Bay State Gas, are combining gas supply operations. Thetwo LDCs, which became sister companies when NIPSCO parent NIbought Bay State in February, expect to save as much as $1million/year through combined portfolio management, according toone source.

In an effort to capture the rewards and pass along savings madepossible by performance-based rates, NIPSCO Industries and its newaffiliate Bay State Gas are combining gas supply operations. TheMidwest and New England LDCs manage firm loads of about 500 MMcf/dand most of that will be procured on the daily spot market in thefuture, said NIPSCO’s Dan Gavito, vice president of corporate gassupply.

Dynegy Inc. said yesterday it is combining its power generationoperations with its trading and marketing organization to “furtherdefine and capture opportunities presented by the convergence ofthe gas and power industries.” The new organization will operateunder the name Dynegy Marketing and Trade. Steve Bergstrom willserve as president and chief operating officer.