Ever

The Department of Defense intends to award the federalgovernment’s largest energy-saving performance contract ever toPepco Energy Services and Viron Energy Services. Pepco EnergyServices is a subsidiary of Potomac Electric Power Co. Viron EnergyServices is a subsidiary of York International Corp. President BillClinton announced the $200 million contract, designed to implementenergy-savings measures for the Military District of Washington(MDW). The MDW is a major Army command encompassing five Armyposts: Fort George G. Meade in Maryland; Fort Myer, Fort Belvoirand Fort A.P. Hill in Virginia; and Fort Lesley J. McNair inWashington, DC. More than 2,100 buildings were examined for energyimprovements. The 18-year MDW contract will result in about $220million in overall cost savings.

In the ever-changing climate of energy deregulation, portfoliomanagement tools, such as weather hedging and storage control, arebecoming more vital, a panel of industry experts said Thursday atthe LDC Forum Conference in Boston, MA.

Reliant Energy Gas Transmission has filed the first-everpipeline transportation proposal for an hourly service and rates tomeet the increasing swing load and peaking needs of the powergeneration industry.

Reliant Energy Gas Transmission has filed the first-everpipeline transportation proposal for an hourly service and rates tomeet the increasing swing load and peaking needs of the powergeneration industry.

Most of Monday’s late-February market resembled the rest of themonth: a little up here, a little down there, and a lot of flatnumbers in between. Once again the exception was in Northeastcitygates, which went as high as the $2.50s in some instances.

Vastar Resources replaced 215% of its 1998 production with newreserves, its highest-ever reserve replacement rate. Provedreserves additions totaled 1,052 Bcfe, or 1,023 Bcfe inclusive ofdivestitures. Year-end total reserves were a record 3,700 Bcfe, up17% over the year-end 1997 base. Average reserve replacement costs,including acquisitions, were $1.11/Mcfe.

It didn’t take long to eclipse what had been the lowest-everprices for a December date recorded by Daily GPI, and the new lowmarks weren’t even close to the ones seen earlier in the week.Continuing record warmth in the eastern two-thirds of the nationyielded record low gas prices for this time of year. Gulf Coastnumbers were almost a dollar under December indexes only three daysinto the month.

TransCanada PipeLines Limited and NOVA Corp. last week completedtheir merger, the largest ever undertaken by energy companies inCanada. The new TransCanada PipeLines Limited and NOVA Corp. begantrading in Canada July 3. Trading began in the United StatesMonday.

In one of its speediest confirmations ever on Capitol Hill, theSenate on Friday approved by unanimous consent the re-appointmentof Commissioner William L. Massey to a second five-year term on theFederal Energy Regulatory Commission.