Estimate

California Gov. Gray Davis said Friday the the state’s $8.9 billion estimate for refunds owed to its electric customers isn’t negotiable, but he will to consider alternative forms of payment other than straight cash refunds, such as the re-negotiation of long-term power contracts.

Sparked by a 121% increase in revenues to $13.5 billion for the first quarter 2001, American Electric Power (AEP) announced earnings of $0.68 per share, a whopping 89% increase over the first quarter 2000’s level of $0.36 per share. The company attributed the earnings run to the strong performance of its wholesale business and the impact of the return to service of its Cook Nuclear Plant.

Sparked by a 121% increase in revenues from $6.1 billion for the first quarter 2000 to $13.5 billion for the first quarter 2001, American Electric Power (AEP) announced ongoing earnings of $0.68 per share, a whopping 89% increase over the first quarter 2000’s level of $0.36 per share. The company attributed the earnings run to the strong performance of its wholesale business and the impact of the return to service of its Cook Nuclear Plant.

Kinder Morgan, Inc. reported “a spectacular 2000,” with a 75%increase over 1999 and a 65% increase in fourth quarter earnings.In the fourth quarter KMI beat the consensus estimate of 41 cents ashare, coming in with earnings of 43 cents.

Kinder Morgan, Inc. reported “a spectacular 2000,” with a 75%increase over 1999 and a 65% increase in fourth quarter earnings.In the fourth quarter KMI beat the consensus estimate of 41 cents ashare, coming in with earnings of 43 cents.

California energy officials held their breath Monday and bracedthemselves for what might be the severest test yet for the state’soverworked electricity infrastructure and overheated wholesalepower market.

Burlington Resources expects to top First Call/ThomsonFinancial’s earnings estimate for the company’s third quarter by$.06 to $.11 cents, but reports production may lag in comparison tolast quarter due to the “natural decline” in some of its operationareas.

Huge resources of methane gas, trapped in frozen hydrates at thebottom of the oceans, are piquing the interests of researchersworldwide who estimate gas reserves in deep, frigid waters to be asmuch as 500 times larger than conventional gas reserves. With therecent enactment of the Methane Hydrate Act of 2000, passed byCongress and signed last week by President Clinton, more attentionis expected to be focused on these untapped reserves.

Reliant reported its #1 unit at the Amber Compressor Station(Grady County, OK) has gone down with mechanical problems and itcan not estimate the outage’s duration. Until further notice Westof Amber capacity is limited to 360,000 Dth/d.