Interstate pipelines should be allowed to build as much newcapacity as they want into the burgeoning Northeast gas marketproviding they are put at risk for underrecovery of rates on theprojects, pipeline customers told FERC last week. But absent suchan at-risk approach, they urged the Commission to exerciserestraint when assessing Northeast-bound pipe projects becausewhile they concede additional capacity will be needed in thefuture, they are more guarded than pipelines about the extent ofthe need.
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Futures: Buy the Rumor, Sell the Refill
After a lower open at the bell yesterday, the futures marketmoved higher and easily recouped Tuesday’s losses. The Julycontract finished up 6.7 cents and in doing so registered anoutside up-day on the daily charts.
June 10, 1999
NiSource Hires Former Vastar CEO to Grow TPC
NiSource has named former Vastar CEO William A. (Andy) Lang asthe new president and COO of TPC Corp., which it purchased fromPacifiCorp for $150 million in April. Lang and several other newofficials have been hired to rebuild TPC’s energy marketingoperations and grow its exiting portfolio management business.
June 10, 1999
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.
May 31, 1999
Washington Gas Offers Five-Year Rate Freeze
In order to keep pace with Maryland gas deregulation, WashingtonGas filed a rate plan with the Maryland Public Service Commission(MPSC) last week, proposing a five-year rate freeze and credits oncustomer bills if the company’s return on equity (ROE) exceeds 12%.Washington Gas hopes to have the filing approved this fall.
May 24, 1999
‘Fairness’ in Gas Regulations Should ‘Bite the Dust,’ Williams Says
Williams Gas Pipelines’ Lew Posekany made a proposition lastweek that would make most pipeline customers cringe in disbelief-that FERC in its quest to create a more competitive natural gasmarket should toss out some of the notions of fairness that havebeen woven into its transportation regulations over time.
May 17, 1999
1Q99 Marketing Results Contrast Volume Growth with Financial Returns
The trend among the top energy marketers appears to be that thebig movers continue getting much bigger while the smaller marketersare struggling to maintain previous sales volumes andprofitability, according to NGI’s marketing survey. The survey alsoindicates volume growth has very little correlation with financialperformance.
May 10, 1999
Exposure to Turned-Back Capacity High, EIA Says
Some of the “most pronounced” turnback activity for long-termfirm capacity can be expected to occur this year, next year and in2004, according to an analysis of the pipeline transportationmarket issued by the Energy Information Administration (EIA) lastweek.
May 10, 1999
GRI Predicts Technology Will Enable Producers to Meet Demand Growth
Major improvements in well productivity from new technology andhigher success rates in gas drilling will help producers meetanticipated robust growth in U.S. gas demand over the next twodecades, according to a Gas Research Institute study.
May 10, 1999
Pipeline Certificate Process Gets Face-Lift at FERC
Regulations pertaining to the construction of new pipelineprojects took the spotlight at FERC yesterday, with the Commissionapproving a final rule aimed at updating and streamlining thecertificate process for new projects, including a change in thetimetable for the filing of project-related environmental data.FERC also proposed an initiative that would give landowners greaterparticipation in the certification process.
April 29, 1999
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