Designed

Denver-based Prima Energy Corp., an independent natural gas and oil company, has adopted a Stockholder Rights Plan designed to provide additional negotiating leverage to the company’s board of directors in the event of an unsolicited takeover bid, and to protect the company’s stockholders against inadequate offers and “abusive takeover tactics.” Under the plan, the company will distribute one right for each outstanding share of common stock to holders of record at the close of business on June 8. The plan would generally be triggered if an acquiring party accumulated 15% or more of the company’s common stock. Most of the company’s current activities are focused in the Rocky Mountains.

Emergency legislation designed to provide relief to the troubled California wholesale energy markets could get consideration by the full House Energy and Commerce Committee this week, a Capitol Hill staffer told NGI last week.

Emergency legislation designed to provide relief to the troubled California wholesale energy markets could get consideration by the full House Energy and Commerce Committee as early as next week, a Capitol Hill staffer told NGI yesterday.

Altra E-Business Solutions, a subsidiary of Altra Energy Technologies, Inc., and Epicentric have designed and launched a new energy portal for ONEOK, Inc. The ‘My OEMT’ (for ONEOK Energy Marketing and Trading) portal will act as an e-business network, simultaneously delivering customized commerce services, business applications and targeted content to different user groups within the energy industry.

Duke Energy late Wednesday confirmed that it has proposed a “good faith” preliminary global settlement designed to help solve California’s ongoing energy crisis and urged Gov. Gray Davis to take a hard look at the initiatives the company has put forward. Key elements of Duke’s proposed settlement include a willingness by the company to build new supply in the state without taxpayers having to foot the bill and resolution of all pending lawsuits and investigations into Duke’s pricing activities.

Southern Natural Gas filed an application with FERC last week for a $24.9 million pipeline expansion project designed to serve a new power plant being built in Calhoun County, AL, by Calhoun Power and to provide additional capacity for Alabama Gas Co. and the City of Sylacauga, AL. The project will add 33 MMcf/d of firm capacity to the Sonat system, and when combined with existing unused summer capacity, will enable Southern to transport a total of 118 MMcf/d for the three customers.

Southern Natural Gas filed an application with FERC this week for a $24.9 million pipeline expansion project designed to serve a new power plant being built in Calhoun County, AL, by Calhoun Power and to provide additional capacity for Alabama Gas Co. and the City of Sylacauga, AL. The project will add 33 MMcf/d of firm capacity to the Sonat system, and when combined with existing unused summer capacity, will enable Southern to transport a total of 118 MMcf/d for the three customers.

The New England Power Pool (NEPOOL) has filed an energy conservation program with FERC that is designed to encourage reduced consumption of electricity during peak demand periods and help moderate price fluctuations in the wholesale electricity market. The program could reduce the daily energy requirement in the region by 300-600 MW and produce annual savings of $30 million.

The New England Power Pool (NEPOOL) has filed an energyconservation program with FERC that is designed to encouragereduced consumption of electricity during peak demand periods andhelp moderate price fluctuations in the wholesale electricitymarket. The program could reduce the daily energy requirement inthe region by 300-600 MW and produce annual savings of $30 million.