Piedmont Natural Gas reported Tuesday that it has closed on its purchase of North Carolina Gas Service (NCGS), the North Carolina natural gas distribution division of NUI Corp., for approximately $26 million. First announced in mid-May, the sale agreement has received all necessary regulatory approvals. NCGS delivers gas to approximately 14,000 customers in Rockingham and Stokes counties, which are contiguous to Piedmont’s existing service territory. Piedmont said the purchase is consistent with its core business growth strategy, which includes pursuing acquisitions and business ventures in the growing southeastern markets. The companies both agreed on a smooth transition to ensure that customers of NCGS will not experience any inconveniences as a result of the sale. Piedmont immediately began serving North Carolina Gas customers upon completion of the sale, and is sending letters to all former NCGS customers informing them of the change in ownership. Piedmont said for the time being former customers of North Carolina Gas Service may use the same telephone numbers that they have been using for gas service, emergency or billing questions. Charlotte-based Piedmont distributes natural gas to 725,000 residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company is the second-largest natural gas utility in the Southeast.
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Piedmont Closes $26 Million North Carolina Gas Acquisition
Piedmont Natural Gas reported Tuesday that it has closed on its purchase of North Carolina Gas Service (NCGS), the North Carolina natural gas distribution division of NUI Corp., for approximately $26 million. First announced in mid-May, the sale agreement has received all necessary regulatory approvals (see Daily GPI, May 16).
FERC Initiates Industry-Wide Audit of Annual Reports Between 1998-2001
The Federal Energy Regulatory Commission’s Division of Regulatory Audits last week began an industry-wide audit of annual financial reports to determine why such a high number of jurisdictional natural gas and electricity companies reported negative balances in their asset (cash) accounts pertaining to subsidiary investments for 2001.
FERC Initiates Industry-Wide Audit of Annual Reports Between 1998-2001
The Federal Energy Regulatory Commission’s Division of Regulatory Audits has begun an industry-wide audit of annual financial reports to determine why such a high number of jurisdictional natural gas and electricity companies reported negative balances in their asset (cash) accounts pertaining to subsidiary investments for 2001.
PacifiCorp Power Grows Gas Storage Business
PacifiCorp Energy Canada’s Enstor division said last week that it has acquired Dominion Canada’s 40% stake in the Alberta Hub natural gas storage facility. The company’s affiliate, PacifiCorp Power Marketing Inc. (PPM), said it plans to market the capacity and add more storage facilities to its portfolio in the near future. Terms of the transaction were not disclosed.
FirstEnergy Outlines Davis-Besse Repairs; NRC Optimistic About Other Plants
Officials from FirstEnergy’s nuclear operations division told the Nuclear Regulatory Commission (NRC) Wednesday they would submit a detailed plan in two weeks for repair of the corroded Davis-Besse reactor head in Ohio, with a goal of having the 883 MW unit back on line in July.
Kansas Gas Service Files 400-Page Complaint Against Enbridge’s Kansas Pipeline
Kansas Gas Service, a division of Oneok, has filed a formal complaint with the Federal Energy Regulatory Commission against Enbridge Pipelines, owner of KPC, an interstate pipeline successor to a Kansas general partnership including Kansas Pipeline Partnership, Riverside Pipeline Partnership LP. and KansOk Partnership, charging a continued violation of service agreements dating back to 1995.
Williams Picks Whisenant as Wadlington Successor
Williams Cos. has named J. Douglas Whisenant as president and CEO of its interstate natural gas pipeline division, succeeding Cuba Wadlington Jr., who died last month at the age of 58 from complications related to cancer.
Williams Picks Whisenant as Wadlington Successor
Williams Companies has named J. Douglas Whisenant as president and CEO of its interstate natural gas pipeline division, succeeding Cuba Wadlington Jr., who died earlier this month at the age of 58 from complications related to cancer.
People
Dominion Evantage Energy Consulting, a division of Dominion, announced the appointment of Arthur Malatzky as business development manager. Art will be responsible for growing Dominion’s consulting customer base nationwide, with a primary focus on the industrial sector. Prior to joining Dominion, Malatzky served as manager of energy purchasing and policy for Olin Corp., a large, energy-intensive chemicals and metals company and, following its spin off from Olin, he served in a similar position with Arch Chemicals, Inc. He also managed Doe Run Gas Marketing and Doe Run Gas Transmission, subsidiaries of Arch and Olin.
