Piedmont Natural Gas boosted its customer service base in North Carolina, by agreeing to a two-part deal on Thursday that includes the stock purchase of North Carolina Natural Gas (NCNG), a distribution subsidiary of Progress Energy, and Progress Energy’s investment in EasternNC, a gas delivery service, for approximately $425 million in cash. The acquisition includes the 176,000 NCNG residential, commercial and industrial natural gas customers in eastern and southern North Carolina, giving Piedmont more than 454,000 customers in the state, and a total of 901,000 customers in North Carolina, South Carolina and Tennessee.
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Articles from Customer
ANR Announces Open Season on Lebanon Lateral
ANR Pipeline Co. began a non-binding open season on Wednesday to determine customer interest in contracting for additional transportation capacity on its existing natural gas pipeline system to markets along the Lebanon Lateral in southwest Ohio. The open season will run through Oct. 11.
Columbia Expands Retail Choice Program in VA
The Virginia State Corporation Commission (SCC) authorized Columbia Gas of Virginia to expand its customer choice program across its entire service territory over the next several weeks. Under the expansion, Columbia will give 200,000 retail sales customers the opportunity to choose their gas supplier.
Transportation Notes
Pacific Gas & Electric has a customer-specific OFO in place today. It was projecting Tuesday that linepack would fall slightly below its minimum target level.
NSTAR Seeks Another Rate Cut for Gas Service
Boston-based NSTAR, Massachusetts’ largest combined utility, has asked state regulators to reduce its gas adjustment cost by 17% to 43.5 cents/therm effective Jan. 1, 2002. If approved, NSTAR’s gas adjustment cost will have dropped by 67.5 cents/therm for the year or by more than 60%.
Lodi Storage Project Set to Begin; Customer Base Uncertain
California’s second merchant underground natural gas storage project prepares to start up commercial operations this week at Lodi, CA, about 50 miles south of Sacramento, but backers at Houston-based Western Hub Properties still face two pieces of unfinished business.
Lodi Storage Project Set to Begin; Customer Base Uncertain
California’s second merchant underground natural gas storage project prepares to start up commercial operations the week of Dec. 17 at Lodi, CA, about 50 miles south of Sacramento, but it backers at Houston-based Western Hub Properties still face two pieces of unfinished business.
Caminus Completes Acquisition of Altra’s Software Business
Caminus Corp. expanded its customer base to approximately 300 energy trading and marketing companies with the completion of its acquisition of the software operations of Altra Energy Technologies, Inc., announced Tuesday.
Hanover Buys Schlumberger’s Gas Compression Assets
Hanover Compressor Co., which rents, repairs and services natural gas compressors worldwide, broadened its customer base last Thursday, agreeing to acquire several compression and gas handling joint venture projects of Schlumberger for $761 million. Hanover will pay Schlumberger $270 million in cash, $150 million in a long-term loan and issue shares worth $283 million, effectively giving Schlumberger a 10% stake in the company.
Hanover Buys Schlumberger’s Gas Compression Assets
Hanover Compressor Co., which rents, repairs and services natural gas compressors worldwide, broadened its customer base Thursday, agreeing to acquire several compression and gas handling joint venture projects of Schlumberger for $761 million. Hanover will pay Schlumberger $270 million in cash, $150 million in a long-term loan and issue shares worth $283 million, effectively giving Schlumberger a 10% stake in the company.