Consideration

The Senate is expected to take up consideration of a Republican-crafted comprehensive energy package next Monday, with a vote to come within two to three weeks, according to Capitol Hill observers.

American Electric Power (AEP) has no plans at this time to pursue legal action in the wake of a move by Virginia lawmakers last Wednesday to place into immediate effect legislation that blocks AEP from transferring ownership of its transmission assets to PJM Interconnection prior to next summer.

With former Enron Corp. executive Michael Kopper’s guilty plea last month, sources indicate that federal investigators are now closer to indicting former CFO Andrew Fastow, and plan to also target former CEO Jeffrey Skilling. And former Chairman Kenneth Lay? Though he has yet to receive the notoriety of his former financial whiz kids, investigators in Houston and Washington, DC apparently have been quietly scrutinizing Lay’s stock sales in the months and years before the Houston company filed for bankruptcy — at least for now.

The National Energy Board said it will hold a public hearing on consideration of the toll treatment of the Northwest Facilities, a mainline extension of Maritimes and Northeast Pipeline (M&NE) in New Brunswick that would have to be built to support the Cartier Pipeline project in Quebec. Cartier, which is being proposed by Enbridge and Gaz Metropolitain, would bring Atlantic Canadian natural gas to Quebec City from a connection with the Northwest Facilities.

Senate Majority Leader Tom Daschle (D-SD) last week discontinued any further consideration by the Senate Energy and Natural Resources Committee of major energy legislation for the rest of the session, reportedly after it became clear that Republicans on the committee had enough votes to push through a bill that would call for the opening of the Arctic National Wildlife Refuge (ANWR).

After several ownership changes and years of consideration, Market Hub Partners (MHP) is finally preparing its proposed salt cavern gas storage project in Copiah, MS, for service. The Duke Energy subsidiary launched a 30-day open season last week to test market interest in the project, which initially would provide 3 Bcf of working capacity and about 300 MMcf/d of deliverability on Texas Eastern and several other Gulf Coast pipes starting in spring 2004.

After several ownership changes and years of consideration,Market Hub Partners (MHP) is finally preparing its proposed saltcavern gas storage project in Copiah, MS, for service. The DukeEnergy subsidiary launched a 30-day open season yesterday to testmarket interest in the project, which initially would provide 3 Bcfof working capacity and about 300 MMcf/d of deliverability on TexasEastern and several other Gulf Coast pipes starting in spring 2004.

Pipeline safety is expected to move to the forefront in theSenate this week, with the chamber due to begin consideration oflegislation on Thursday.

After Alaska’s governor balked at a move by BP Amoco to pushconsideration of its ARCO acquisition through the Federal TradeCommission, the company has backed off and pledged to address thestate’s anti-competitive concerns. Discussions between the companyand Alaska were ongoing last week.