Expects

Atlanta-based power marketer Southern Energy Inc. raised theestimated price range of its initial public offering yesterday, andexpects net proceeds from the deal to reach $1.05 billion — 19%more than the previously expected $884 million in net proceeds. Itsprice rose nearly $3 yesterday, to $18 to $20 per share from $15 to$17 per share.

Predicting that Texas will have the most competitive and themost successful retail electric market in the country, Texas PublicUtilities Commissioner Brett A. Perlman said last week that thestate is on track to meet its deregulation date of Jan. 1, 2002.

Predicting that Texas will have the most competitive and themost successful retail electric market in the country, Texas PublicUtilities Commissioner Brett A. Perlman said yesterday that thestate is on track to meet its deregulation date of Jan. 1, 2002.

Giving it one more try in his last two years in office, AlaskaGov. Tony Knowles expects to introduce legislation this fall thatwould lower the tax barriers for potential stranded natural gasprojects — such as a possible natural gas pipeline — to bringgas from the North Slope to the Lower 48 and gas-to-liquidsfacilities.

Giving it one more try in his last two years in office, AlaskaGov. Tony Knowles expects to introduce legislation this fall thatwould lower the tax barriers for potential stranded natural gasprojects — such as a possible natural gas pipeline — to bringgas from the North Slope to the Lower 48 and gas-to-liquidsfacilities.

The CEO of one of the most active drillers in North America —EOG Resources Inc. — said last week that he expects the next “bigslug of supply” will come from Alaska and the Beaufort Sea, but notuntil a pipeline is in place there, and not until producers canfill the pipelines with gas.

Williams said Thursday it expects to resume normal operationsSunday, one day earlier than previously anticipated, on Line Segments490 and 491. The pipeline had declared a force majeure for thesegments following a compressor failure at its Riner Station (seeDaily GPI, Aug. 3).

Reliant Energy said yesterday that it expects earnings for thesecond quarter of 2000 to be considerably higher than the sameperiod last year and 15-20% higher than industry analysts’projections. In the second quarter of 1999, the company hadadjusted earnings of $123 million, or $0.43 per share. Increasedearnings from the company’s growing multi-regional generationportfolio combined with strong commercial management of theseassets and increased trading margins drove earnings beyondexpectations for the quarter. “Our strategy of building strongbusiness positions in selected regions of the U.S. allows us tocapitalize on the growth opportunities of different markets,” saidReliant CEO Steve Letbetter. The company plans to announce secondquarter earnings on July 27.

Tennessee Gas Pipeline is holding an open season through May 31to solicit interest in its Mississippi 500 Line Expansion Project.Tennessee expects the expansion to involve about 700,000 Dth/d offirm service starting June 1, 2001.