Equitable

World leaders must agree on “an ambitious, robust and equitable global deal on climate change that responds credibly to the scale and urgency of the crisis facing the world today,” according to The Copenhagen Communique, a statement published last week by the business leaders of more than 500 companies from around the world that participated in the UN Summit on Climate Change in New York.

World leaders must agree on “an ambitious, robust and equitable global deal on climate change that responds credibly to the scale and urgency of the crisis facing the world today,” according to The Copenhagen Communique, a statement published jointly Tuesday by the business leaders of more than 500 companies from around the world that participated in the UN Summit on Climate Change in New York.

Any climate change legislation enacted by Congress should be “economy-wide” and “transparent, consistent, predictable and equitable,” says a draft resolution by a task force of the National Association of Regulatory Utility Commissioners (NARUC).

GE Commercial Finance Energy Financial Services (EFS) and privately held Locin Oil Corp. have acquired 96 Bcf of net proved gas reserves for $147 million from Equitable Production Co. The assets include 1,200 wells in Pennsylvania and Ohio, and more than 220 proven and probable undeveloped drilling locations have been identified.

Equitable Resources elected Vicky A. Bailey to its board of directors, increasing in the number of directors from 10 to 11. Bailey also will serve as a member of the company’s corporate governance committee. Bailey is a partner of the governmental relations firm of Johnston & Associates LLC and recently served as assistant secretary for the office of policy and international affairs at the Department of Energy. She is a previous commissioner at the Federal Energy Regulatory Commission and also previously served as a commissioner of the Indiana Public Utility Commission. Following her term at FERC, she assumed the position of president of PSI Energy Inc., Indiana’s largest electric supplier and a subsidiary of Cinergy Corp.

Nova Scotia’s government last week issued a 25-year natural gas distribution license for the province on the assumption that the chosen distributor had natural gas supplies line up. However, the province has since learned that the new distributor does not have supply in place for its 4,000 potential customers and is still in the negotiating stages with several suppliers.

Natural gas marketers might save a few pennies on each trade by doing their business online rather than over the phone, and they probably will handle more volume, but at some point in time it’s going to come back to haunt them, said Kevin Huntsman of Mastio & Company. Mastio just released its fifth customer satisfaction ranking of gas marketers, and the results are a little scary for many of the mega marketers, who boast about huge gas volumes but often have very few satisfied customers.

Natural gas marketers might save a few pennies on each trade by doing their business online rather than over the phone, and they probably will handle more volume, but at some point in time it’s going to come back to haunt them, said Kevin Huntsman of Mastio & Company. Mastio just released its fifth customer satisfaction ranking of gas marketers and the results are a little scary for many of the mega marketers, who boast about huge gas volumes, but often have very few satisfied customers.

Statoil Energy’s sale of 1.1 Tcf of gas reserves and 6,500 wellsin the Appalachian Basin to Equitable Resources earlier this monthfor $630 million was the first of three possible transactions, aspokeswoman said last week. The latter two, which would include thecompany’s top-30 trading operations, and growing power developmentarm, are expected to involve an eastern-U.S. electric utility buyerand take place before March, according to one inside source.