Dust

Off the beaten path of western energy and commerce superhighways, Elko, NV, is being left in the dust by natural gas pipeline and power plant developers since the wholesale market and many of its major practitioners suffered the retrenchment of the past 18 months.

Picking up from where she left off last year, Sen. Dianne Feinstein (D-CA) said she plans to introduce legislation this week to bolster the authority of federal regulators to detect and penalize companies that defraud and manipulate energy markets.

Picking up from where she left off last year, Sen. Dianne Feinstein (D-CA) said she plans to introduce legislation next week to bolster the authority of federal regulators to detect and penalize companies that defraud and manipulate energy markets.

Joining the growing pile of abandoned plans for new power plants in California, the City of Roseville, about 30 miles east of Sacramento, last week terminated its agreement with part of Enron Corp. to develop a 750-900 MW power plant in Placer County. The action has officials in the counties in and around the state capital worried about new sources of power for the future.

Calgary-based EnCana, the largest North American-based independent oil and gas company, has no plans to gather dust, setting a broad target to grow its natural gas production and storage capacity on the continent, expand its Gulf of Mexico holdings and search for new platforms for exploration expansion — and that’s not all.

Calgary-based EnCana, the largest North American-based independent oil and gas company, has no plans to gather dust, setting a broad target to grow its natural gas production and storage capacity on the continent, expand its Gulf of Mexico holdings and search for new platforms for exploration expansion — and that’s not all.

As the dust begins to settle in the second coming of Ken Lay as CEO of Houston-based Enron Corp., there was no word at the end of last week as to who will become part of Lay’s brain trust on the top floor. Assuaging worries of analysts and investors, Lay and his executive team laid low last week, after acknowledging in previous days that Enron is offering some employees new stock options, which would be worth up to 5% of their salaries. However, Enron also plans to cut more than half of the 900 employees in its sagging broadband unit, moving 250 to other positions and offering severance packages to the other 250.

As the dust begins to settle in the second coming of Ken Lay as CEO of Houston-based Enron Corp., Lay said the company will offer some employees new stock options at strike prices beginning this week, a one-time additional grant, which would be worth up to 5% of their salaries. He also said, however, that the trading giant will cut more than half of the 900 employees in its sagging broadband unit, moving 250 to other positions and offering severance packages to the other 250.

FERC needs to dust off and review its landmark gas restructuringrule, Order 636, to get to the root of many of the reliabilityproblems in the bulk power market, say industrial power customersand a utility/marketer.