The “desperation” by utilities to consolidate, mutate or get outof the business altogether is a good thing, said utilities analystDaniel Ford of ABN AMRO, because this fear is where most of thestock values are now being created. Ford, a keynote speaker at lastweek’s PowerMart 2000 in Houston, called investors a “ficklebunch,” but added they are sticking with utility stocks.
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Analyst: Utilities’ ‘Desperation’ Creates Value
The “desperation” by utilities to consolidate, mutate or get outof the business altogether is a good thing, said utilities analystDaniel Ford of ABN AMRO, because this fear is where most of thestock values are now being created. Ford, a keynote speaker atPowerMart 2000 in Houston, called investors a “fickle bunch,” butadded they are sticking with utility stocks.
Nymex Opposes Bill Favoring Electronic Trades
Nymex Chairman Daniel Rappaport last week sent a letter to Rep.Larry Combest, Chairman of the House Committee on Agriculture,raising concern over a subsection of H.R. 4541, the “CommodityFutures Modernization Act of 2000,” which would exempt electronicenergy derivatives trading from regulatory oversight.
Iroquois Extension Could Replace Millennium
Daniel Adamson, FERC director of the Office of Energy Projects,fired off a letter of rejection to Millennium Pipeline earlier thismonth, regarding an amendment application for a proposed routechange along the highly controversial power transmission right ofway in Westchester County, NY. He also told Millennium officials toconsider substituting a proposed extension of the Iroquois GasTransmission system for the Millennium project.
Iroquois Extension Could Replace Millennium
Daniel Adamson, FERC director of the Office of Energy Projects,fired off a letter of rejection to Millennium Pipeline last week,regarding an amendment application for a proposed route changealong the highly controversial power transmission right of way inWestchester County, NY. He also told Millennium officials toconsider substituting a proposed extension of the Iroquois GasTransmission system for the Millennium project.
Millennium Has to Sweat it Out a Little Longer
It looks like Millennium Pipeline’s long wait for a FERC rulingis going to last a little longer. FERC’s Daniel M. Adamson,director of the Office of Energy Projects, turned down a request byMillennium sponsors to exclude from its Final Environmental ImpactStatement an assessment of a proposed route change in WestchesterCounty, NY. Millennium was seeking a speedy FEIS but now will haveto wait until the Commission reviews its route change.
FERC Inquires about Millennium’s Fate
Daniel M. Adamson, director of the office of energy projects atthe Federal Energy Regulatory Commission, sent a letter to ColumbiaEnergy’s David Pentzein this week requesting a status report on the$650 million Millennium Pipeline project in light of all the recentcriticism from New York regulators and the impact of theColumbia-NiSource merger. The 442-mile project would bring about714 MMcf/d of gas from Canada under Lake Erie to the New Yorkmetropolitan area.
Industry Briefs
Duke/Fluor Daniel has been awarded a contract by West GeorgiaGenerating Co. L.P., a subsidiary of Sonat Energy Services, toprovide engineering, procurement and construction services for a650 MW dual fuel, gas and distillate oil-fired power plant in UpsonCounty, GA. The power plant will be designed to use four PG7241(FA) gas turbines in simple-cycle operation. The $180 million powerplant, which will be built within the Thomaston Industrial Park inUpson County, is expected to be fully operational by June 1, 2000.A significant portion of the electricity from the plant will besold to Georgia Power under an existing power sales agreement.
Larcamp to Head New FERC Office
Daniel L. Larcamp was appointed director of the Office ofMarkets, Tariffs and Rates at the Federal Energy RegulatoryCommission (FERC). The office and position were created as part ofinternal restructuring at the Commission under the FERC Firstprogram. Larcamp has served as senior counsel and policy advisor toFERC Chairman James. J. Hoecker on electric power issues sinceAugust.
Larcamp to Head New FERC Markets Office
Daniel L. Larcamp was appointed director of the Office ofMarkets, Tariffs and Rates at the Federal Energy RegulatoryCommission (FERC). The office and position were created as part ofinternal restructuring at the Commission under the FERC Firstprogram.