After battling through a third quarter that brought a cooler than normal close to summer and numerous asset impairments, many electric utilities posted lower than expected earnings, while few managed to outdo their results from last year.
Articles from Declare
Sonat will declare force majeures in conjunction with shut-in tests scheduled at its two storage fields during April. Firm storage (CSS) customers will be allocated to 36% of their currently effective Daily Injection Quantity (DIQ) and Daily Withdrawal Quantity (DWQ) during April 1-7 work at the Muldon facility in Mississippi and to 64% of DIQ/DWQ during April 8-21 work at the Bear Creek facility in North Louisiana. These reduced levels of DIQ and DWQ are subject to change, if necessary.
Key Senate members of the Florida delegation weren’t ready to declare a full victory after the Bush administration, in a compromise gesture earlier this week, significantly scaled back plans to allow oil and natural gas drilling in the eastern Gulf of Mexico.
After giving Natural Gas Pipeline Co. of America (NGPL) asecond bite at the apple, FERC last week said the pipeline hadsufficiently defended a proposed tariff revision that would allowit to hold its shippers liable for damages resulting fromlower-quality gas entering its system.
A direct lightning strike occurred Monday at Transwestern’sBisti Compressor Station (San Juan County, NM), prompting thepipeline to declare a force majeure. Transwestern expected thestation to be down about three days, saying San Juan Lateralcapacity would be reduced to 700,000 MMbtu/d through Thursday.
Tennessee Gas Pipeline has asked FERC to declare five lateralsin Texas as non-jurisdictional gathering and allow it to abandonand sell them to affiliate El Paso Field Services. The WestMagnolia, Chesterville, Bay City, Hungerford, and Village MillsLateral Systems fit the description of gathering, Tennessee said,adding that they currently are little used. The pipeline said it isno longer necessary for it to own the gathering lines since it nolonger sells bundled gas services. Detaching them from theTennessee system will “improve Tennessee’s ability to streamlineits mainline transmission operations.” Also the systems would bebetter able to compete with other unregulated gathering services ifthey are not tied to a jurisdictional pipeline.