Chicago

Green Bay, WI-based WPS Resources Corp. and Chicago-based Peoples Energy Corp. said Monday that upon regulatory approval their combined company will be named Integrys. “In Integrys, we have a name that reflects our commitment to open and honest business practices, prudent decision-making and a strong financial foundation,” said WPS CEO Larry L. Weyers, who will be CEO of the new company. “These values will support the integration of the two companies and help us achieve our vision of becoming a stronger and more competitive, diversified energy company. Integrys also conveys the core values of our combined company.” The new parent company will be listed on the New York Stock Exchange under the ticker symbol TEG. The energy marketing subsidiary will be called Integrys Energy Services Inc. The names of the operating subsidiaries will not change: Wisconsin Public Service Corp., Upper Peninsula Power Co., Michigan Gas Utilities, Minnesota Energy Resources, Peoples Gas, and North Shore Gas. The merger is expected to close in the first quarter of 2007. The companies announced the signing of a definitive merger agreement on July 10. The pairing of WPS and Peoples will bring together 1.6 million gas customers and 477,000 electric customers.

Green Bay, WI-based WPS Resources Corp. and Peoples Energy Corp. of Chicago announced the organizational structure for their proposed combined company and the managers who will fill top positions. The companies announced the signing of a definitive merger agreement on July 10 and expect the transaction to close in the first calendar quarter of 2007.

Green Bay, WI-based WPS Resources Corp. and Peoples Energy Corp. of Chicago announced the organizational structure for their proposed combined company and the managers who will fill top positions. The companies announced the signing of a definitive merger agreement on July 10 and expect the transaction to close in the first calendar quarter of 2007.

Golden Pass LNG LLC awarded a $1 billion lump-sum turnkey contract to Chicago Bridge & Iron Co. (CB&I) for construction of the 2 Bcf/d Golden Pass liquefied natural gas (LNG) import facility near Sabine Pass, TX. The terminal, which will deliver regasified LNG to an ExxonMobil refinery and to the U.S. gas pipeline grid, is expected to be completed in 2009 when it will begin receiving LNG from Qatar.

Alliance Pipeline, Duke Energy Gas Transmission (DEGT) and NJR Pipeline Co. are teaming up to propose a new 125-170-mile bidirectional pipeline between the Chicago Hub and the Lebanon Hub in Ohio to provide Canadian producers better access to premium gas markets in the Northeast.

Alliance Pipeline, Duke Energy Gas Transmission (DEGT) and NJR Pipeline Co. are teaming up to propose a new 125-170-mile bidirectional pipeline between the Chicago Hub and the Lebanon Hub in Ohio to provide Canadian producers better access to premium gas markets in the Northeast.

Completing its second week of side-by-side energy trading on the Chicago Mercantile Exchange’s Globex platform, the New York Mercantile Exchange (Nymex) said Friday that despite small volumes on a number of the electronically traded contracts, the company has seen growth over the two-week span along with new business that wasn’t trading in open outcry or on Nymex’s after-hours Access electronic system. Reaction from the marketplace appears encouraging (see Daily GPI, June 12).

Most of the cash market was softer Friday, but it had a few flat to moderately higher points in the mix. A prior-day screen increase and some instances of rising cooling load were outweighed by a significant weekend cooldown in the Northeast and the drop in industrial load that typically accompanies a weekend. Also, excess supply issues were accumulating in the West, where many of the largest losses were recorded.

Chicago retail gas marketer U.S. Energy Savings Corp. issued a statement late Monday denying charges by Illinois consumer watchdog Citizen Utility Board (CUB) that its sales tactics are misleading consumers.