New Century, Northern States Will Be Xcel Energy

Xcel Energy Inc. will be the name of the holding company createdby the merger of Denver-based New Century Energies and NorthernStates Power Co. of Minneapolis.

June 7, 1999

New Century, Northern States Will Be Xcel Energy

Xcel Energy Inc. will be the name of the holding company createdby the merger of Denver-based New Century Energies and NorthernStates Power Co. of Minneapolis.

June 2, 1999

Traders Say $2.30 No Problem for May Futures

For the second trading session in a row yesterday the Maycontract dipped lower at the open, but was unable to completelyfill in the chart created between last Wednesday’s $2.18 high andThursday’s $2.20 low. And once that early selling pressure driedup, the market was free to rally on waves of buying by both localand commercial traders. The May contract pressed higher throughoutthe session, spiking above the $2.30 level at the closing bellbefore settling at $2.299, a 7.3-cents advance on the day. Atechnical difficulty at Nymex last night suspended the after-hourscomputer-only Access trading session.

April 27, 1999

Quiet Before Storm, May Prepares for Expiration Week

A chart gap, created when the one day’s high price is lower thanthe low price of a consecutive trading day is an eye sore to chartwatchers-they don’t like them and they will almost always try tofill them in by trading the market back between the “gap.” So itcame as no surprise when the first order of Friday’s trading wasfor the market to check lower in an attempt to fill in the 2-centgap left between Wednesday’s high of $2.18 and Thursday’s low of$2.20. It never made it. In fact, sellers could barely dent it andmanaged only a $2.195 low, before late buying lifted the promptmonth to just above unchanged Friday afternoon. May finished theweek at $2.226, a 0.1-cent gain for the day.

April 26, 1999

CA Fights FERC For Control of ISO and PX

In a classic states’ rights confrontation, California ischallenging FERC jurisdiction over the operation of the state’s twononprofit organizations created to make electric restructuring runsmoothly, the Independent System Operator (ISO) overseeing thetransmission grid and the Power Exchange (PX) providing a wholesalespot electricity market. Two bills have been proposed in the statelegislature to change the status of the ISO and PX in directresponse to FERC jurisdictional questions.

March 15, 1999

Oneok and Magnum Hunter Align

Oneok Inc. and Magnum Hunter Resources Inc. have created astrategic alliance to maximize gas production and developmentopportunities for both companies. Oneok will buy $50 million ofMagnum Hunter convertible preferred stock, becoming a 31% equityowner. Oneok will acquire $10 million of Magnum Hunter’s pendingacquisition of Spirit 76, including reserves and a gatheringsystem. Oneok also will market all of Magnum Hunter’s Oklahomaproduction and have the right to participate in Magnum Hunter’sOklahoma acquisitions.

December 15, 1998

NY Requests Comments on Stranded Costs

New York Public Service Commission issued a notice last weekseeking comments on how “strandable” gas capacity costs createdwhen existing sales customers migrate to transportation serviceshould be recovered from customers. Interested parties should filetheir comments by Dec. 14.

November 25, 1998

FERC Opens Three New Offices

FERC Chairman James Hoecker has announced the start-up of threenew offices, created as a result of the agency’s on-goingrestructuring.

July 23, 1998

GRI Takes Over Canadian Gas Research

The Gas Research Institute announced its newly created Canadiansubsidiary, GRI Canada, has been selected by Gas Technology Canadato manage a $5 million/year research, development andcommercialization program funded by the Canadian natural gasindustry.

July 8, 1998

TransCanada Recapitalizing Gathering

TransCanada PipeLines created limited partnership TransCanadaGas Processing LP and is offering units to the public. TransCanadaholds various ownership interests in five gathering and processingfacilities and all related agreements in Alberta and Saskatchewan.With offering proceeds, the partnership will acquire an indirect75% interest in the facilities, while TransCanada will retain theremaining 25%. After 20 years, TransCanada will reacquire thefacilities at their fair market value for cash or shares ofTransCanada. “TransCanada will recapitalize these Canadian gasprocessing investments in a very efficient manner and investorswill receive attractive returns and tax treatment,” saidTransCanada CEO George Watson.

June 2, 1998
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