ANR Pipeline locked in a stable source of income for the next eight years by renegotiating firm transportation and storage agreements with its largest customer, Wisconsin utility We Energies, covering 866,500 Dth/d of service starting in 2003 and extending under various terms to 2010. Many of the contracts were due to expire in 2003.
Deals
Articles from Deals
Idacorp May Face Sanctions for Subsidiaries’ Power Deals
Idacorp’s efforts to unwind the power marketing operations may be hindered after the company acknowledged last week that FERC is considering regulatory action for some marketing transactions between subsidiaries Idacorp Energy and Idaho Power. Apparently, they did not have regulatory approval for some power trading transactions, and also had not gotten formal approval to transfer power contracts. Idacorp said it did not know what sanctions it might face, nor what effect the actions might have on earnings.
Integrating Credit Department with Trading Unit Essential
“Finding creative ways to make deals happen is a bigger challenge for me than assessing a financial statement,” according to Frank Hilton, vice president and chief credit officer for AEP. “You have to look at other things besides the balance sheet,” Hilton told the audience at the LDC Forum last Tuesday in Chicago.
Integrating Credit Department with Trading Unit Essential
“Finding creative ways to make deals happen is a bigger challenge for me than assessing a financial statement,” according to Frank Hilton, vice president and chief credit officer for AEP. “You have to look at other things besides the balance sheet,” Hilton told the audience at the LDC Forum Tuesday in Chicago.
NGPL Inks Transportation, Storage Deals with NIPSCO
Kinder Morgan Inc. subsidiary Natural Gas Pipeline Co. of America (NGPL) has extended long-term, firm transportation and storage contracts with Northern Indiana Public Service (NIPSCO) covering 400,100 Dth/d of transportation capacity and 10.5 Bcf of storage space.
Court Allows Oxy, Peoples to Assume Enron’s Chicago Supply Deals
The United States Bankruptcy Court in New York has approved the sale of two of Enron North America’s gas purchase agreements to Occidental Energy Marketing, Inc. (Oxy), which will assume responsibility for supply agreements with Peoples Energy utility subsidiaries The Peoples Gas Light and Coke Co. and North Shore Gas effective April 1.
Williams Inks Processing Deals for 575 MMcf/d of Rockies’ Production
AEC Oil & Gas (USA) Inc., a unit of BP, McMurry Energy, Nerd Energy and Williams’ production business have dedicated 575 MMcf/d of gas production to Williams’ processing plant in Opal, WY, under a long-term agreement. The natural gas production is from the Jonah and Pinedale Anticline fields in southwestern Wyoming.
Holiday Demand Surprising as Most of Market Firms
More than one trader was more than a bit surprised at the price run-up in most markets Tuesday in two-day deals covering the Fourth of July holiday, which normally is considered one of the lowest demand periods of the year. Only Rockies/San Juan/Pacific Northwest points and a few Northeast citygates softened, in contrast with numbers elsewhere that ranged from flat to about 15 cents higher outside California and gains at California points that exceeded half a dollar.
CA Regulators Divided on Future of Customer Choice
Customer choice and so-called direct access retail power deals between end-use customers and supplier/marketers may be an ultimate casualty of California’s year-old energy wars. State energy regulators indicated last week they are divided over the issue along political lines.
CA Regulators Divided on Future of Customer Choice
Customer choice and so-called direct access retail power deals between end-use customers and supplier/marketers may be an ultimate casualty of California’s year-old energy wars. State energy regulators indicated last week they are divided over the issue along political lines.