Closing

DTE Energy Co. announced earlier this week that it is closing upshop on its residential and small commercial marketing efforts, atleast for the time being. The Detroit, MI-based company’sderegulated energy marketing company, DTE Edison America, said itwill halt operations in New Jersey and Pennsylvania in May,effectively withdrawing DTE Energy from all deregulated massmarketing efforts.

Gas restructuring filings made last week with the PennsylvaniaPublic Utility Commission by Penn Fuel Gas and PECO Energy Co. haveset the stage for only the fourth state in the country to providestatewide access to the retail gas market. Out of the 22 stateswith gas utilities employing pilot programs, only New Mexico, WestVirginia and New York allow gas customers statewide to choose theirgas suppliers so far. Pennsylvania regulators now say statewideunbundling will occur by July.

Gas restructuring filings made this week with the PennsylvaniaPublic Utility Commission by Penn Fuel Gas, Carnegie Natural andPECO Energy Co. have set the stage for only the fourth state in thecountry to provide statewide access to the retail gas market. Outof the 22 states with gas utilities employing pilot programs, onlyNew Mexico, West Virginia and New York allow gas customersstatewide to choose their gas suppliers so far. Pennsylvaniaregulators now say statewide unbundling will occur by July.

Sonat Exploration Co. of Houston, a wholly owned subsidiary ofSonat Inc. announced that it will close its Tyler, TX, and OklahomaCity offices on or shortly after Oct. 31. The action is part of aplan to improve the efficiency of the company’s exploration andproduction business. Following the office closures, SonatExploration will conduct all operations out of its main office inHouston.

Pioneer Natural Resources announced the closing of a number ofasset and property sales yesterday totaling $286 million. TheIrving, TX-based exploration and production company said $256million of the total will be used to reduce outstanding bank debt.

The groundwork for an even more concentrated U.S. energyindustry was laid Monday as Wisconsin Energy Corp., a Milwaukee,WI-based electric and gas utility, announced plans to acquireneighboring gas distributor WICOR Inc. for about $1.51 billion incash, stock and debt, creating a major Midwest energy concern andthe 13th largest utility in the nation.

The U.S. Senate is closing in on a set schedule of hearings forall pending federal electric deregulation proposals, Senate EnergyCommittee Chairman Frank Murkowski (R-AK) said at a committeehearing last week. The schedule will include a hearing date for theDept. of Energy (DOE) Secretary Bill Richardson’s administrationproposal, allowing interested parties to comment on itscontroversial 7.5% renewable energy mandate.

The U.S. Senate is closing in on a set schedule of hearings forall pending federal electric deregulation proposals, Senate EnergyCommittee Chairman Frank Murkowski (R-AK) said at a committeehearing Wednesday. The schedule will include a hearing date for theDept. of Energy Secretary Bill Richardson’s administrationproposal, allowing interested parties to comment on itscontroversial 7.5% renewable energy mandate.