Closer

Even with more federal regulatory intervention and a return to closer-to-normal hydroelectric supplies in the future, California is facing at least two more years of electricity supply-demand imbalance and the prospect for higher wholesale power prices as a result, according to Andre Meade, utility analyst at Commerzbank Securities.

National Grid USA’s proposed purchase of Niagara Mohawk Holdings Inc. moved one step closer to completion last Wednesday after the Federal Energy Regulatory Commission gave its blessing to the deal. The merger, currently valued at $3 billion and first unveiled in September of last year (see NGI, September 11, 2000), still needs to clear a number of regulatory hurdles before it can be completed.

Moving a step closer to production, Calgary-based Canadian Superior Energy Inc. reported that it has completed the acquisition of 1,100 kilometers of high-resolution seismic coverage of its offshore Nova Scotia Marquis prospects and an additional 700 kilometers of seismic data in the immediate area from Geophysical Service Inc. (GSI) of Houston.

National Grid USA’s proposed purchase of Niagara Mohawk Holdings Inc. moved one step closer to completion Wednesday after the Federal Energy Regulatory Commission gave its blessing to the deal. The merger, currently valued at $3 billion and first unveiled in September of last year (see Daily GPI, Sept. 6, 2000), still needs to clear a number of regulatory hurdles before it can be completed.

Kerr-McGee has received antitrust approval for its $1.3 billion acquisition of natural gas producer HS Resources Inc., based in San Francisco. The Oklahoma City independent said it had been granted early termination of the waiting period under the Hart-Scott-Rodino Act, and when completed, Kerr-McGee would join the top five list of leading oil and gas independents, and would up its gas reserves 77%.

The 442-mile Millennium Pipeline project, which would bring 714 MMcf/d of gas to New York City from connections with the Canadian pipeline grid under Lake Erie, made progress last week when its highly contested route alternative in Westchester County, NY, gained the support of the New York State Public Service Commission (PSC), local citizens, elected officials and the pipeline’s planners. However, the Federal Energy Regulatory Commission (FERC) still must review all comments on the pipeline’s supplemental draft environmental impact statement (EIS) before issuing a final EIS.

The 442-mile Millennium Pipeline project, which would bring 714 MMcf/d of gas to New York City from connections with the Canadian pipeline grid under Lake Erie, made progress yesterday when its highly contested route alternative in Westchester County, NY, gained the support of the New York State Public Service Commission (PSC), local citizens, elected officials and the pipeline’s planners. However, the Federal Energy Regulatory Commission (FERC) still must review all comments on the pipeline’s supplemental draft environmental impact statement (EIS) before issuing a final EIS.

Uniform electricity markets across the Northeast and Mid-Atlantic regions moved one step closer to becoming reality last week as electricity market administrators, Independent System Operator (ISO) New England Inc. and PJM Interconnection LLC, reported that they have teamed up with systems developer ALSTOM ESCA Corp. to formalize an agreement that will standardize their electricity markets. The ISOs also believe the model could be adopted by wholesale markets across the country.

Uniform electricity markets across the Northeast andMid-Atlantic regions moved one step closer to becoming reality onThursday as electricity market administrators, Independent SystemOperator (ISO) New England Inc. and PJM Interconnection LLC,reported that they have teamed up with systems developer ALSTOMESCA Corp. with the intent to formalize an agreement that willstandardize their electricity markets. The ISOs also believe themodel could be adopted by wholesale markets across the country.