Executives

Blackouts are expected to become more frequent worldwide as power plants age and investment dries up, according to a PricewaterhouseCoopers (PwC) survey of 119 investors and executives at utilities in 36 countries.

Some analysts and company executives have questioned whether an energy trading operation is good for the balance sheets of prospective and current importers of liquefied natural gas (LNG) in North America, but San Diego-based Sempra Energy, a leading proponent of trading and a major LNG player, was unabashedly supportive of its trading unit Tuesday at the Merrill Lynch “Global Power & Gas Leaders Conference.”

Some analysts and company executives have questioned whether an energy trading operation is good for the balance sheets of prospective and current importers of liquefied natural gas (LNG) in North America, but San Diego-based Sempra Energy, a leading proponent of trading and a major LNG player, was unabashedly supportive of its trading unit Tuesday at the Merrill Lynch “Global Power & Gas Leaders Conference.”

Capgemini Energy LP, a joint venture formed by Capgemini America Inc. and TXU Corp., began operation on Thursday with a complete leadership structure drawn from both parent companies.

None of the senior executives ousted by Royal Dutch/Shell Group will receive annual bonuses for 2003, the company said in an annual report issued Friday. The company also will not pay bonuses to its current management team because production targets were not met last year.

Two former executives and an ex-energy trader for Duke Energy Corp.’s Houston-based trading unit pleaded innocent last week to charges that they schemed to secure bonuses by fraudulently manipulating energy trading profits. All were released on separate $100,000 bonds.

A survey by global accounting firm Grant Thornton of 60 senior executives at mid-sized independent exploration and production (E&P) companies found that on average most expect Henry Hub natural gas prices to increase modestly over the next four years, moving from $4.44/Mcf in 2004 to $4.82 in 2007.

A survey by global accounting firm Grant Thornton of 60 senior executives at mid-sized independent exploration and production (E&P) companies found that on average most expect Henry Hub natural gas prices to increase modestly over the next four years, moving from $4.44/Mcf in 2004 to $4.82 in 2007.

What its executives are calling a “significant rally” of Eastern coal prices could fuel an upswing in the wholesale market for natural gas-fired electricity beginning next year, according to Calpine Corp. officials responding to questions from financial analysts Thursday.