Firms

Two more Canadian firms, TransCanada PipeLines Ltd. and BPC Generation Infrastructure Trust of Toronto, have teamed with prior interest holder, Cameco Corp. of Saskatoon, Canada, to buy 79.8% of the massive Ontario-based nuclear power facility, Bruce Power L.P., from the financially ailing British Energy for an estimated $376 million.

Energy firms have more than $100 billion in short- and long-term debt coming due in 2003, which will require refinancing at higher interest levels to keep the companies out of bankruptcy, said an official with the Federal Energy Regulatory Commission last Wednesday.

Energy firms have more than $100 billion in short- and long-term debt coming due in 2003, which will require refinancing at higher levels to keep the companies afloat financially, said an official with the Federal Energy Regulatory Commission Wednesday.

California’s attorney general will take the lead in deposing top officials at three national energy firms as part of its extra data gathering effort to support the state’s contention that it is entitled to $9 billion in wholesale electric refunds. FERC Administrative Law Judge Peter Young ruled earlier this month that the state could question officials of Mirant Americas Energy Marketing, Reliant Energy Power Generation and Powerex Corp.

California’s attorney general will take the lead in deposing top officials at three national energy firms as part of its extra data gathering effort to support the state’s contention that it is entitled to $9 billion in wholesale electric refunds. FERC Administrative Law Judge Peter Young ruled last Friday that the state could question officials of Mirant Americas Energy Marketing, Reliant Energy Power Generation and Powerex Corp.

Five major energy companies are the majority of the private-sector firms signing a consent decree with California state officials Thursday to clean up a 38-acre toxic waste site in Huntington Beach, CA, that was abandoned nearly 20 years ago and has sat vacant. Gov. Gray Davis announced the agreement, calling it a “significant achievement.”

The Energy Information Administration (EIA) reported that total foreign direct investment in acquisitions of U.S. energy assets reached $11 billion last year, only about 25% of what was invested in 2000 and the lowest level since 1997. The major difference in 2001 was the absence of a major purchase, such as BP’s acquisition of ARCO in 2000.

The Energy Information Administration (EIA) reported that total foreign direct investment in acquisitions of U.S. energy assets reached $11 billion last year, only about 25% of what was invested in 2000 and the lowest level since 1997. The major difference in 2001 was the absence of a major purchase, such as BP’s acquisition of ARCO in 2000.

FERC will issue a final report on the results of its high-profile investigation into manipulation of energy prices in western markets either by the end of the year or in mid-February 2003 at the latest, Chairman Pat Wood told energy analysts and executives last week.