Changing

With a growing interest in changing the state’s energy landscape, California lawmakers this week will examine three major proposals, one that would create a new regulatory body out of parts of three existing agencies, another that would eliminate the last vestiges of the state’s 1996 electric restructuring law and third dealing with gas price indices. Hearings are set in the Assembly and Senate for Wednesday and Thursday for the respective bills.

With a growing interest in changing the state’s energy landscape in the post-2000/2001 crisis, California lawmakers this week will further examine two separate and major proposals for establishing a new foundation for industry matters. Sacramento observers are unsure of the ultimate fate of the two proposals — one in the state Senate and the other in the lower house Assembly.

Signifying a changing of the guard of sorts, BP plc’s board said Thursday that Tony Hayward, 45, will succeed Richard Olver , 56, as CEO of BP’s vast Exploration and Production unit. Hayward most recently held the position of COO for Exploration and Production. Olver will replace Rodney Chase, 59, in his duties as deputy chief executive. BP said Chase will retire from the company on April 23, 2003, but will relinquish his role as deputy chief executive “with immediate effect.” Chase will remain on the board as senior advisor to BP CEO John Browne. In his new position, Olver will hold accountability for health, safety and the environment, human resources management, marketing, technology and digital business. BP said he will have regional responsibility for Europe (including Russia), the Middle East, Africa and the Americas. The board also announced that it intends to appoint Hayward, John Manzoni, 43, chief executive of Refining and Marketing, and David Allen , 48, group chief of staff, to the board as managing directors of BP, effective Feb. 1. The company said Allen will be accountable for economics and planning, corporate communications and senior management education.

Signifying a changing of the guard of sorts, BP plc’s board said Thursday that Tony Hayward, 45, will succeed Richard Olver, 56, as CEO of BP’s vast Exploration and Production unit. Hayward most recently held the position of COO for Exploration and Production. Olver will replace Rodney Chase, 59, in his duties as deputy chief executive. BP said Chase will retire from the company on April 23, 2003, but will relinquish his role as deputy chief executive “with immediate effect.” Chase will remain on the board as senior advisor to BP CEO John Browne. In his new position, Olver will hold accountability for health, safety and the environment, human resources management, marketing, technology and digital business. BP said he will have regional responsibility for Europe (including Russia), the Middle East, Africa and the Americas. The board also announced that it intends to appoint Hayward, John Manzoni, 43, chief executive of Refining and Marketing, and David Allen, 48, group chief of staff, to the board as managing directors of BP, effective Feb. 1. The company said Allen will be accountable for economics and planning, corporate communications and senior management education.

The New York Mercantile Exchange (Nymex) has set new annual volume records with 110 million futures and options contracts changing hands through Oct. 25, which exceeded the previous record of 109.5 million set in 1999. Natural gas futures volume set a new record at 20.73 million, which exceeded the previous record of 19.2 million set in 1999. The exchange also broke volume records for, among other things, total options (21.98 million), Nymex Division futures and options (95.78 million), Nymex futures (75.87 million), energy futures and options (95.58 million) and energy futures (75.67 million). Exchange President J. Robert Collins said the records, along with a 30% increase in overall trading volume over the same period last year and record seat values on the NYMEX Division, show the industry’s confidence in the exchange and its method of trading. “Not evident in these numbers is over-the-counter clearing activity, which, since its introduction on May 31, has seen more than $1.1 billion in trades cleared at the Exchange,” he added.

SCANA’s South Carolina Pipeline Corp. (SCPC) is fundamentally changing the way it does business in an effort to better market its pipeline capacity and expand its service territory. The company announced plans last week to voluntarily open its pipeline system to transportation-only service and discontinue gas sales service. It intends to file an application for the switch with the Public Service Commission of South Carolina (SCPSC) next month.

SCANA’s South Carolina Pipeline Corp. (SCPC) is fundamentally changing the way it does business in an effort to better market its pipeline capacity and expand its service territory. The company announced plans yesterday to voluntarily open its pipeline system to transportation-only service. It intends to file an application for the switch with the Public Service Commission of South Carolina (SCPSC) this year.

California’s ever-changing electricity saga ended the firstquarter of 2001 as it started the year – a work in progress. Itsscope widened again last week with regulators, legislators and thecourts working overtime to keep up. Supplies remained tight withthree Stage Two power alerts called during the week.

“The times, they are a-changing” could be Southern Company’smotto after a recent blitz of reorganization. The company reportedthat its board of directors approved the long-awaited spin-off ofMirant Corp. – formerly known as Southern Energy – and ChairmanA.W. “Bill” Dahlberg is retiring upon completion of thetransaction.