Consolidated Edison Co. of New York will collect $1.1 billionand Niagara Mohawk Power Corp. will pick up $355 million on salesof several fossil-fueled generating plants, approved Thursday bythe New York State Public Service Commission.
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NY PUC Approves Generating Unit Sales
Consolidated Edison Co. of New York will collect $1.1 billionand Niagara Mohawk Power Corp. will pick up $355 million on salesof several fossil-fueled generating plants, approved Thursday bythe New York State Public Service Commission.
Dominion, CNG Plan Up to 2,400 MW of New Power
Even before their merger is consummated, Dominion Resources andConsolidated Natural Gas are making plans to begin development offour gas-fired peaking power generation facilities along CNGTransmission in Ohio, Pennsylvania and West Virginia. Thefacilities represent up to $800 million in local investment. Allfour plants are expected to be in service in time for peak summerdemand in 2002.
Dominion, CNG Plan Up to 2,400 MW of New Power
Even before their merger is consummated, Dominion Resources andConsolidated Natural Gas are making plans to begin development offour gas-fired electric power generation facilities along CNGTransmission in Ohio, Pennsylvania and West Virginia. Thefacilities represent up to $800 million in local investment. Allfour plants are expected to be in service in time for peak summerdemand in 2002.
Columbia Accepts Defeat After Dominion Ups Ante for CNG
After extending its unsolicited merger offer for ConsolidatedNatural Gas twice, Columbia Energy finally accepted defeat lastweek, ending a three-month battle with Dominion Resources for CNG’shand. Columbia officially withdrew its $6.7 billion offer lastTuesday following a sweetened merger bid by Virginia Power parentDominion set at $6.4 billion and the CNG board’s unanimous approvalof a revised agreement with Dominion.
Senate Bills Could Settle Royalty Dispute, Lessen E&P Tax Burden
Sen. Frank Murkowski (R-AK), chairman of the Senate Committee onEnergy and Natural Resources, consolidated several recentlegislative measures and a few new ones into two separate pieces oflegislation last week that could have a wide ranging impact on theexploration and production sector.
Senate Bills Aim at Royalty Relief
Sen. Frank Murkowski (R-AK), chairman of the Senate Committee onEnergy and Natural Resources, consolidated several recentlegislative measures and a few new ones into two separate pieces oflegislation last week that could have a wide ranging impact on theexploration and production sector.
Columbia Accepts Defeat After Dominion Ups Ante for CNG
Columbia Energy has accepted defeat in the three-month battlewith Dominion Resources for a merger with Consolidated Natural Gas.Columbia officially withdrew its $6.7 billion offer late Tuesdayfollowing a sweetened merger bid by Virginia Power parent Dominionset at $6.4 billion and the CNG board’s unanimous approval of arevised agreement with Dominion.
Columbia Extends Deadline a Week for CNG Bid
Columbia Energy Group said yesterday it is extending the deadlineby seven days to May 10 on its merger proposal with ConsolidatedNatural Gas in response to a data request from CNG’s board. CNG askedfor additional information on a two-way collar mechanism in Columbia’sunsolicited $6.7 billion bid for the company (see Daily GPI, April 20).
Columbia, Dominion Battle for CNG
By the close of trading last Friday, Columbia Energy Group’s$6.7 billion unsolicited bid for Consolidated Natural Gas still hadthe edge on Dominion Resources’ all stock offer worth $5.9 billion,but Dominion’s stock price was gaining ground.