Confirms

Northwest Natural Gas Co. confirmed Friday that it is negotiating with Enron Corp. to buy its slow growing electric utility Portland General Electric Co. (PGE), but added “there can be no assurances that any transaction will result” from its negotiations. Enron has been trying to sell the utility for nearly two years, and was close to completing a $3.1 billion deal with Sierra Pacific Resources, but that sale fell apart nearly six months ago in the midst of the California energy crisis (see NGI, April 30).

Duke Energy late Wednesday confirmed that it has proposed a “good faith” preliminary global settlement designed to help solve California’s ongoing energy crisis and urged Gov. Gray Davis to take a hard look at the initiatives the company has put forward. Key elements of Duke’s proposed settlement include a willingness by the company to build new supply in the state without taxpayers having to foot the bill and resolution of all pending lawsuits and investigations into Duke’s pricing activities.

The Senate over the weekend confirmed by a voice vote SpencerAbraham, a former senator from Michigan, as the secretary of theDepartment of Energy (DOE).

The Energy Information Administration (EIA) again raised itswholesale and retail gas price projections for the winter andconfirmed that gas storage levels at the end of December were lowerby 10% than the previous record low set in 1976.

The Energy Information Administration (EIA) again raised itswholesale and retail gas price projections for the winter andconfirmed that gas storage levels at the end of December were lowerby 10% than the previous record low set in 1976.

Future shippers on the new Chicago-to-Dawn Vector Pipeline hadtheir fears confirmed last Tuesday when pipeline officialsannounced that the start-up date for the project, which wasscheduled for Nov. 1 to coincide with the start-up of thelong-awaited Alliance Pipeline, would be delayed a month until Dec.1.

Future shippers on the new Chicago-to-Dawn Vector Pipeline hadtheir fears confirmed Tuesday when pipeline officials announcedthat the start-up date for the project, which was scheduled forNov. 1 to coincide with the start-up of the long-awaited AlliancePipeline, would be delayed until Dec. 1.

A supply/demand forecast released by Nova Corp. confirms whatmany market observers have expected: Canadian gas producers will behard pressed to fill all the new transportation capacity coming online this winter and could find it even harder to fill storage andmeet demand next summer.

A last-minute concession by the White House on nuclear-wastestorage cleared the way for the Senate on Friday to confirm byunanimous consent Bill Richardson, currently the U.S. ambassador tothe United Nations, as the next secretary of the Department ofEnergy (DOE).