Reporting a sea of red ink from its aborted merger and the shrinking of its trading business, Constellation Energy Group’s senior officials last Wednesday expressed confidence that the pending joint venture on its nuclear power plant fleet with Electricite de France SA (EDF) will bring stability and liquidity to the troubled energy holding company and parent to still-profitable Baltimore Gas and Electric Co. (BG&E).
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Constellation Looks Through Red Ink to Stability from EDF Deal
Reporting a sea of red ink from its aborted merger and the shrinking of its trading business, Constellation Energy Group’s senior officials Wednesday expressed confidence that the pending joint venture on its nuclear power plant fleet with Electricite de France SA (EDF) (see Daily GPI, Dec. 18, 2008) will bring stability and liquidity to the troubled energy holding company and parent to still-profitable Baltimore Gas and Electric Co. (BG&E).
Futures Inch Lower Ahead of Expected Bearish Storage Report
November natural gas futures tracked lower once again Wednesday along with major markets as investor confidence remained shaky despite a wave of global interest rate cuts. The Dow Jones Industrial Average fell another 189 points on the day, while November crude futures dropped $1.11 to close at $88.95/bbl and November natural gas futures shaved 2.6 cents to close at $6.742.
Wall Street Upheaval Diverts Political Spotlight from Offshore Drilling
As the Bush administration and Congress work to restore confidence on Wall Street, the issue of offshore oil and natural gas drilling — a political hot potato for weeks — has been pushed to the back-burner on Capitol Hill, according to legislative sources.
Wall Street Upheaval Diverts Political Spotlight from Offshore Drilling
As the Bush administration and Congress worked to restore confidence to Wall Street last week, the issue of offshore oil and natural gas drilling — a political hot potato for weeks — got pushed to the back-burner on Capitol Hill.
Uncertainties Lessen, Future Clearer, Sempra CEO Says
With some key uncertainties now resolved in its utilities and commodities businesses, San Diego-based Sempra Energy is raising its confidence level and profit guidance for the rest of the year, CEO Donald Felsinger told financial analysts during an earnings conference call last Thursday. Still, regulatory, economic and contractual challenges lie ahead for interstate pipeline/storage plays and Sempra’s growing liquefied natural gas (LNG) terminal assets.
Uncertainties Cleared Up, Future Brighter, Sempra CEO Says
With some key uncertainties now resolved in its utilities and commodities businesses, San Diego-based Sempra Energy is raising its confidence level and profit guidance for the rest of the year, CEO Donald Felsinger told financial analysts during an earnings conference call Thursday.
FERC: Qualified OK to Puget Utility-Macquarie Merger
Expressing confidence in state of Washington regulators, FERC gave conditional approval last Thursday to the proposed Puget Sound Energy (PSE) $7.4 billion merger with a private equity consortium of North American infrastructure investors led by a New York City unit of Australian-based Macquarie Infrastructure Partners (MIP).
FERC OKs Puget Energy Merger Conditioned on State Protections
Expressing confidence in state of Washington regulators, FERC gave conditioned approval Thursday to the proposed Puget Sound Energy (PSE) $7.4 billion merger with a private equity consortium of North American infrastructure investors led by a New York City unit of Australian-based Macquarie Infrastructure Partners (MIP).
El Paso’s Debt Reduction Leads to Upgrade by Moody’s
El Paso Corp. received another vote of confidence by a credit ratings agency after Moody’s Investors Service Thursday upgraded the corporation and its subsidiaries’ ratings by two notches and affirmed a “positive” rating outlook. The upgrades, said Moody’s, follow El Paso’s progress in meeting its 2006 financial goals after reducing about $2 billion of its debt since the beginning of the year and selling $500 million of common stock in May.