Expressed

The New York Mercantile Exchange expressed outrage Friday overpassage of H.R. 4541 by the House of Representatives on Thursday.The Commodity Futures Modernization Act of 2000 would exemptelectronic energy derivatives trading from regulatory oversight.

In light of expanding markets being served by El Paso NaturalGas’ South Mainline, East-of-California (EOC) shippers haveexpressed concern with the pipeline’s “Line 2000 Project” in whichit seeks to abandon six aging compressor facilities and replacethem with nearly 785 miles of converted line that would loop muchof its southern leg. The rub is that the proposed project,essentially a one-for-one swap, is not expected to create any newcapacity, yet El Paso is looking for its shippers to foot the tab.

In light of expanding markets being served by El Paso NaturalGas’ South Mainline, East-of-California (EOC) shippers haveexpressed concern with the pipeline’s “Line 2000 Project” in whichit seeks to abandon six aging compressor facilities and replacethem with nearly 785 miles of converted line that would loop muchof its existing system. The rub is that the proposed project wouldnot create any new capacity.

While Chairman James Hoecker last week expressed doubt FERC could provide any real “immediate” relief to California electric customers, the state’s two largest investor-owned utilities called on the Commission to move quickly to rescue the malfunctioning wholesale power market, saying it could not stand on the sidelines as the nation’s first retail electric experiment teeters on the brink of disaster. (See related report, this issue).

Despite continuing setbacks with Texas properties, PG&ECorp. officials last week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.

Despite continuing setbacks with Texas properties, PG&ECorp. officials this week expressed continued support for theirnational energy strategy, which when broken down is a largelyelectricity-based with key gas assets to enhance power assetvalues.

Existing shippers on Transcontinental Gas Pipeline haveexpressed widespread opposition to the pipeline’s request to rollin the costs associated with its SouthCoast expansion project inGeorgia and Alabama.

Existing shippers on Transcontinental Gas Pipeline haveexpressed widespread opposition to the pipeline’s request to rollin the costs associated with its SouthCoast expansion project inGeorgia and Alabama.

The leaders of a major pipeline association and a key electricutility group jointly have expressed their support for FERC toconvene a conference “in the near future” to assess post-2000natural gas demand in the Northeast and the need for new pipelinecapacity to serve customers, particularly power generators, in thatmarket. Meanwhile, a new study sees no need for new capacity to theNortheast until 2004 (See related story this issue).