Continuing

Continuing to push its advantage as the main gas supplier inWisconsin, Coastal’s ANR Pipeline Co. announced yesterday thatAlliant Energy’s Wisconsin Power & Light Co. (WP&L) hasagreed to extend to 2003 and 2010, respectively, its transportationand storage service agreements, which are due to expire in 2000 and2003. The Public Service Commission of Wisconsin (PSC-W) hasapproved the agreements. Financial terms were not disclosed.

Continuing with efforts to shed non-core assets and improve itsbalance sheet, CMS Energy Corp. announced an agreement yesterday tosell its 80% ownership of the 236 MW Lakewood Cogeneration ventureto Consolidated Edison for $94 million. The sale will result in a$182 million reduction of project debt from the CMS balance sheet.

With gas and electric utility stocks continuing to probe thedepths after a brief spike in a January fuel-cell frenzy, someobservers and executives are keeping their eyes peeled for the nextseries of corporate takeovers in the industry.

With gas and electric utility stocks continuing to probe thedepths after a brief spike in a January fuel-cell frenzy, someobservers and executives are keeping their eyes peeled for the nextseries of corporate takeovers in the industry.

Coastal’s ANR Pipeline is continuing its battle against aproposed pipeline that would challenge its dominance of theWisconsin market. ANR is calling for backers of the GuardianPipeline project to make costs of the project public to provewhether it would reduce Wisconsin gas prices.

Despite continuing setbacks with Texas properties, PG&ECorp. officials last week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.

Despite continuing setbacks with Texas properties, PG&ECorp. officials this week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.

Even with continuing mild weather and an indifferent screen, theEast joined the West in a united front of rising prices Wednesday.Gains were fairly uniform across the board, ranging from about anickel to a dime. CIG, which had been lagging considerably behindother Rockies pipes Tuesday, was playing catch-up Wednesday with anincrease of a little more than a dime after an eastward-moving coldfront blanketed much of the state of Colorado in snow.

Once it acquires Eastern Enterprises, KeySpan Corp. will havelanded a big fish with a full belly as the Weston, MA-based holdingcompany is just now about to digest its third LDC acquisition inless than two years. The friendly deal, announced yesterday, hasEastern going for $64/share or about $2.5 billion.