The Florida Public Service Commission (PSC) on Friday strongly encouraged investor-owned electric utilities and generators to hash out their differences over possible changes to the state’s generation bid rules and reach a compromise that would be presented to the PSC for further consideration in early September. If such a compromise is not reached, the PSC is expected to move forward with suggestions from PSC staff to begin a formal rulemaking process on changes to the bid rules.
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Analysts: Dynegy, Enron Merger May Be in Trouble
Dynegy Chairman Chuck Watson said his company is “encouraged” by Enron’s success in extending a deadline on a $690 million obligation until mid-December and is “working to accelerate the regulatory approvals required to complete the merger with Enron Corp.” in light of the continuing free fall of Enron’s stock Wednesday. The stock fell more than $2 early in the day to $4.75 but moved back above $5 following Enron’s announcement that it was able to find some breathing room.
Analysts: Dynegy, Enron Merger May Be in Trouble
Dynegy Chairman Chuck Watson said last Wednesday his company was “encouraged” by Enron’s success in extending a deadline on a $690 million obligation until mid-December and is “working to accelerate the regulatory approvals required to complete the merger with Enron Corp.” in light of the continuing free fall of Enron’s stock. The stock fell more than $2 early Wednesday morning to $4.75 but moved back above $5 following Enron’s announcement that it was able to find some breathing room.
El Paso Moves Forward on California Expansion Projects
Encouraged by the results of recent market tests, El Paso Natural Gas announced two binding open seasons last week for 400-500 MMcf/d of firm transportation capacity on a bi-directional lateral it plans to add to its system within California. It also plans to announce soon additional binding open seasons to expand its mainline.
El Paso Moves Forward on California Expansion Projects
Encouraged by the results of recent market tests, El Paso Natural Gas announced two binding open seasons yesterday for 400-500 MMcf/d of firm transportation capacity on a bi-directional lateral it plans to add to its system within California. It also plans to announce soon additional binding open seasons to expand its mainline.
CPUC’s Lynch Encourages Utility Hedging
The head of California’s beleaguered utility regulatorycommission (CPUC) Thursday encouraged the state’s major electricutilities to more fully use existing authority to do short-termforward market hedging deals for power, noting that she wanted toclarify continuing perceptions that the state regulatory body isblocking more utility hedging.
CPUC’s Lynch Encourages Utility Hedging
The head of California’s beleaguered utility regulatorycommission (CPUC) Thursday encouraged the state’s major electricutilities to more fully use existing authority to do short-termforward market hedging deals for power, noting that she wanted toclarify continuing perceptions that the state regulatory body isblocking more utility hedging.
Mitchell Energy Starts Infill Program
Encouraged by an initial production of nearly 4 MMcf/d — froma well which three months later is still going strong at more than3 MMcf/d – Mitchell Energy & Development has started up afull-fledged infill drilling program at its East Texas NorthPersonville field.
Outage-Driven Rockies Lead Further Price Gains
Encouraged by another skyrocketing screen, growing airconditioning load and a major supply outage in the Rockies, cashprices were on the rise Friday almost across the board by anywherefrom 2 to 18 cents. Most upticks were in the neighborhood of anickel, but all Rockies pipes were seeing double-digit increases.”I think a lot of people are starting to put their bull horns backon,” commented a Texas source.