Extension

Dynegy Inc. said it intends to request a 15-day extension on filing its annual report with the Securities and Exchange Commission. The request will cover Dynegy and its two subsidiary registrants, Dynegy Holdings Inc. and Illinois Power Co. The filing is necessary for Dynegy to complete the financial statements and audit for the three companies. The re-audit of Dynegy’s financial statements for 1999 through 2001 is also in the final stages of completion. The company also announced that it is continuing its efforts to refinance its current bank facilities and that its financial statements are being prepared on this basis. “Dynegy assures its stakeholders that the 2002 Form 10-Ks will be filed as soon as the financial statements and the audits are completed, which will be during this extended time period,” said CEO Bruce A. Williamson. “These filings will provide our stakeholders with an accurate view of the financial reporting for previous years and the assurance that we have fully disclosed and properly accounted for our results.”

As an extension of its hotly debated proposed new market design, the California Independent System Operator (CAISO) last week circulated a working document on beefing up its authority next year. The ISO’s “conceptual proposal” will require input from stakeholders and will eventually include published market-sensitive information on a delayed basis. The CAISO will examine the proposal Sept. 19. Eventually some of the plan would have to be approved by the Federal Energy Regulatory Commission, according to a CAISO spokesperson.

Bidding for turned-back capacity on El Paso Natural Gas came to a close at 8 p.m. (Eastern Standard Time) Friday, despite a last-minute plea by a group of full-requirements (FR) shippers for FERC to postpone the closing deadline, and a challenge by California regulators and utilities to El Paso’s decision to give FR shippers preferential access to the capacity. The bidding was seen as a critical first step in the FERC-ordered plan to convert all of the FR shippers on El Paso to contract-demand (CD) service by Nov. 1 of this year, and end a years-long dispute over the disparate manner in which capacity has been allocated on the pipeline.

Bidding for turned-back capacity on El Paso Natural Gas by full-requirements (FR) shippers will come to a close Friday, despite a last-minute plea by a group of FR shippers for FERC to postpone the deadline, and a challenge by California regulators and utilities to El Paso’s decision to give FR shippers preferential access to the capacity. The bidding is seen as a critical first step in the FERC-ordered plan to convert all of the FR shippers on El Paso to contract-demand (CD) service by Nov. 1 of this year, and end a years-long dispute over the disparate manner in which capacity has been allocated on the pipeline.

Iroquois Gas Transmission System L.P. has chosen Houston-based Horizon Offshore Inc. to build the marine portion of its Eastchester Extension Project that will deliver additional natural gas supplies to the New York City market.

An extension of Northern Border Pipeline into Indiana from the Joliet Hub near Chicago and the acquisition of Midwestern Gas Transmission helped Northern Border Partners LP boost earnings during the fourth quarter and the full year.

A extension of Northern Border Pipeline into Indiana from the Joliet Hub near Chicago and the acquisition of Midwestern Gas Transmission helped Northern Border Partners LP boost earnings during the fourth quarter and the full year.

On a strictly partisan 3-2 vote, the California Public Utilities Commission Wednesday blocked a proposed extension of pipeline capacity allocations to natural gas core aggregators on two western Canadian pipelines feeding Pacific Gas and Electric Co.’s affiliate interstate transmission pipeline in the Pacific Northwest. The aggregators were seeking the same assurance of access to reasonably priced supplies that the core customers served by the utility already receive.

Kern River Gas Transmission announced its third major gas pipeline expansion into California. The Williams subsidiary filed an application last week with FERC to construct a new 32-mile lateral in San Bernardino County to deliver 282,000 Dth/d of gas to the High Desert Power Project near Victorville.