The federal bankruptcy judge in Enron Corp.’s Chapter 11 proceeding cleared the way Thursday for Sierra Pacific Resources’ two Nevada utilities to appeal an earlier judgment ordering them to pay more than $330 million in penalties for a busted power supply contract with Enron that was broken off last year. The judge stayed his previous decision ordering the utilities to pay Enron in lieu of them posting bonds and cash while they pursue appeals through federal regulators and the courts.
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FERC, CFTC to Sponsor Joint Conference on Energy Clearing Issues
In response to the sharp decline in market liquidity due to credit issues and heavy collateral requirements, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission (CFTC) will for the first time hold a joint agency conference to address potential solutions.
FERC, CFTC to Sponsor Joint Conference on Energy Clearing Issues
In response to the sharp decline in market liquidity due to credit issues and heavy collateral requirements, the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission (CFTC) will for the first time hold a joint agency conference to address potential solutions.
Lawsuits, FERC Challenges Force Cal-PX into Chapter 11
Still holding on to the collateral of its 70-odd participants inthe form of letters of credit and bonds worth hundreds of millionsof dollars, California’s state-chartered nonprofit wholesale spotmarket for electricity, Cal-PX, chose a Chapter 11 bankruptcyfiling last week because of the preponderance of litigation andfederal regulatory actions pending, its CEO George Sladoje saidMonday.
Independents Gearing Up With Renewed E&P
Oh, to be an independent today holding properties withdiscovered natural gas! Two years ago, you may not have been ableto use that collateral for much, but those days are gone. Naturalgas prices have skyrocketed, coupled with consumers’ thirst for it,and if you have properties ready to be tapped for natural gas,these are the days.
Independendents Gearing Up with Renewed E&P
Oh, to be an independent today holding properties withdiscovered natural gas! Two years ago, you may not have been ableto use that collateral for much, but those days are gone. Naturalgas prices have skyrocketed, coupled with consumers’ thirst for it,and if you have properties ready to be tapped for natural gas,these are the days.