Distribution

If independent retail gas marketers want a level state tax playing field with local distribution company (LDC) marketers in Ohio, they will have to pursue their case in state courts, the U.S. Supreme Court said in a decision issued June 1 [No. 09-223].

If independent retail gas marketers want a level state tax playing field with local distribution company (LDC) marketers in Ohio, they will have to pursue their case in state courts, the U.S. Supreme Court said in a decision issued June 1 [No. 09-223].

Dominion Resources has closed on the $780 million sale of Pittsburgh-based Dominion Peoples, its Pennsylvania natural gas distribution company, to PNG Companies LLC, an affiliate of SteelRiver Infrastructure Fund North America. Dominion Resources turned to SteelRiver Infrastructure after its plans to sell Peoples to Pittsburgh-based Equitable Resources fell through in mid-2008 (see Daily GPI, July 3, 2008). Dominion plans to use approximately $542 million in after-tax proceeds to reduce debt. Dominion Peoples provides gas service to about 359,000 residences and business in 32 counties in Pennsylvania.

Dominion Resources has closed on the $780 million sale of Pittsburgh-based Dominion Peoples, its Pennsylvania natural gas distribution company, to PNG Companies LLC, an affiliate of SteelRiver Infrastructure Fund North America. Dominion Resources turned to SteelRiver Infrastructure after its plans to sell Peoples to Pittsburgh-based Equitable Resources fell through in mid-2008 (see Daily GPI, July 3, 2008). Dominion plans to use approximately $542 million in after-tax proceeds to reduce debt. Dominion Peoples provides gas service to about 359,000 residences and business in 32 counties in Pennsylvania.

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

Portland, OR-based Northwest Natural Gas Co. and its regulated local distribution company (LDC) had their credit rating dropped from double-A to single-A (“A+”) Monday by Standard & Poor’s Ratings Services (S&P) because of added risk from nonutility ventures, such as the Gill Ranch underground gas storage facility in Northern California. Nevertheless, S&P described the company’s outlook as “stable.”

Sempra Energy’s two natural gas distribution utilities received clearance from the California Public Utilities Commission (CPUC) to proceed with seeking approval for off-system natural gas sales over the protests of regional air pollution regulators and power generators. The CPUC concluded that air quality issues had already been considered and could not be revisited in the current proceeding.

The Interior Department announced last Monday the first distribution of more than $25 million in bonuses and rents on energy leases in Gulf of Mexico federal waters to coastal states and communities.

The Interior Department Monday announced the first distribution of more than $25 million in bonuses and rents on energy leases in Gulf of Mexico federal waters to coastal states and communities.