Ensure

Southern California Gas declared a high inventory operational flow order (OFO) for Wednesday. Customers were told to ensure that all deliveries into the SoCalGas system are within 110% of expected usage. SoCalGas said it will assess buy-back charges in accordance with its tariffs.

Southern California Gas declared a high inventory operational flow order (OFO) for Wednesday. Customers were told to ensure that all deliveries into the SoCalGas system are within 110% of expected usage. SoCalGas said it will assess buy-back charges in accordance with its tariffs.

In an agreement to ensure the sale of CrossCountry Energy is approved, Enron Corp. has agreed to increase the funding of pension plans for about 17,000 current and former employees. The agreement resolved litigation with Pension Benefit Guaranty Corp. (PBGC). According to PBGC, Enron has agreed to pay $321 million to cover the underfunding of four of its former benefit plans. Previously, Enron had said paid $200 million would be enough to pay for the fund, but PBGC had threatened to stall the sale of CrossCountry, Enron’s pipeline business, which was approved by the bankruptcy court earlier this month. Enron said it has “resolved” the PBGC objections, and said it would put $321 million into an escrow account to fund the pension.

In an agreement to ensure the sale of CrossCountry Energy is approved, Enron Corp. has agreed to increase the funding of pension plans for about 17,000 current and former employees. The agreement resolved litigation with Pension Benefit Guaranty Corp. (PBGC). According to PBGC, Enron has agreed to pay $321 million to cover the underfunding of four of its former benefit plans. Previously, Enron had said paid $200 million would be enough to pay for the fund, but PBGC had threatened to stall the sale of CrossCountry, Enron’s pipeline business, which was approved by the bankruptcy court earlier this month. Enron said it has “resolved” the PBGC objections, and said it would put $321 million into an escrow account to fund the pension.

Southern California Gas declared an OFO for Friday’s Evening Cycle due to high linepack. Customers must ensure that all deliveries into the SoCalGas system are within 110% of expected usage. The giant LDC will assess Buy-Back charges to those customers who overdeliver.

Florida Gas Transmission declared a potential overage alert to ensure that FGTs linepack does not drop to lower levels. Weather forecasts indicate that temperatures will increase in Florida on Wednesday and Thursday. FGT said it will continue to monitor hourly and daily takes and asked that shippers closely monitor scheduled quantities versus actual burn quantities.

Following on the heels of its merger with El Paso Corp.’s GulfTerra Energy Partners LLP last month, Enterprise Products Partners LP announced last week it is restructuring its board of directors so that most of the general partner’s directors are independent. Enterprise merged with GulfTerra, El Paso Corp.’s energy partnership, in mid-December (see Daily GPI, Dec. 16, 2003).

Following on the heels of its merger with El Paso Corp.’s GulfTerra Energy Partners LLP last month, Enterprise Products Partners LP announced it would restructure its board of directors so that most of the general partner’s directors are independent. Enterprise merged with GulfTerra, El Paso Corp.’s energy partnership, last month (see Daily GPI, Dec. 16, 2003).

To ensure its longevity and encourage more exploration, a commercial discovery offshore Nova Scotia needs to happen soon, Shell Canada’s CEO said on Thursday.