Favorable

In a favorable step for the state’s suspended electric direct access purchasing program, California’s Supreme Court last Thursday upheld the state regulatory commission’s authority and recent rules laid down for customers who were exempted from the state legislature’s restrictions imposed two years ago. About 15% of the three private sector electric utilities’ load is covered by large customers buying their own power supplies.

Key legislative provisions favorable to natural gas production are winding up on the cutting-room floor as House-Senate negotiations over a broad energy bill come down to the wire.

The Federal Energy Regulatory Commission (FERC) issued final certificates or favorable preliminary determinations (PD) on nonenvironmental grounds to five major pipeline expansion projects last Wednesday at its regularly scheduled meeting. The Commission awarded a certificate to Northwest Pipeline’s Evergreen expansion in the state of Washington and granted a PD to PG&E Gas Transmission Northwest’s 2003 Expansion project in Idaho, Washington and Oregon. Both projects would serve mainly new power generation in the Pacific Northwest region. Several eastern pipeline projects also received regulatory approvals.

Record production in Gulf of Mexico (GOM) operations — notably its Aspen field in the deepwater — along with favorable commodity prices, boosted Calgary-based Nexen’s net income 160% in the second quarter compared with a year ago, the company said Thursday. Production-wise, Nexen has charted a course for 6-10% growth this year.

Citing favorable results from an inspection earlier this month, FERC has given Dominion Cove Point LNG LP conditional approval to receive a single test cargo of liquefied natural gas (LNG) in late July.

Citing favorable results from an inspection last week, FERC has given Dominion Cove Point LNG LP conditional approval to receive a single test cargo of liquefied natural gas (LNG) in late July.

FERC has issued a favorable preliminary determination (PD) on non environmental grounds for Tractebel’s proposed $132 million Calypso gas pipeline, which would bring regasified LNG to Florida’s East Coast from a proposed import terminal in the Bahamas (see NGI, July 30, 2001).

NiSource Inc. last week said cold weather and an asset sale offset the negative effects of a rate review settlement, accounting rule change and higher pension expense during the first quarter, resulting in a 5% hike in net income for the period from a year ago.

FERC has issued a favorable preliminary determination (PD) on non environmental grounds for Tractebel’s proposed $132 million Calypso gas pipeline, which would bring regasified LNG to Florida’s East Coast from a proposed import terminal in the Bahamas (see Daily GPI, July 30, 2001).