TECO Energy’s Power Services subsidiary (TPS) has secured a muchstronger foothold in the wholesale generation market by buying astake in two huge gas-fired merchant power plants being developedby Panda Energy International and by announcing plans to build a$1.2 billion, 850 MW unit adjacent to Citgo Petroleum Corp.’s oilrefinery in Lake Charles, LA.
Foothold
Articles from Foothold
TECO Grabs Share of Panda’s Merchant Plants
TECO Energy’s Power Services subsidiary (TPS) has secured a muchstronger foothold in the wholesale generation market by buying astake in two huge gas-fired merchant power plants being developedby Panda Energy International. The companies announced a jointventure yesterday on the plants, which will be located in ElDorado, AR, and in Gila Bend, AZ, and will have a combined capacityto produce 4,600 MW of power. They are projected to cost $2.3billion to build. Teco’s equity committment is $960 million.
Independents Gain Foothold In Rocky Mountains
Horace Greeley’s advice to “go west, young man,” has never beenmore true than for independent North American oil and gascompanies, which are claiming stakes in the Rocky Mountains andreaping huge returns from the untapped natural gas reserves thatlie beneath the deep, thick sands in the mountainous, multi-stateregion.
Independents Gain Foothold in Rocky Mountains
Horace Greeley’s advice to “go west, young man,” has never beenmore true than for independent North American oil and gascompanies, which are claiming stakes in the Rocky Mountains andreaping huge returns from the untapped natural gas reserves thatlie beneath the deep, thick sands in the mountainous, multi-stateregion.
Retail Marketers Trying to Gain a Foothold in MA
Marketers are making a last-ditch attempt at establishing abeachhead for fair and open competition in the retail energy marketin Massachusetts. They lost a battle earlier this year whenregulators voted to allow utilities to assign portions of upstreamgas transportation and storage capacity to customers who wereseeking alternative suppliers. Marketers now hope they can persuaderegulators to establish a set of minimum standards for utilitytransportation service, not only for the retail customer, but alsofor the new utility customer, i.e., the retail marketer, as well.
Retail Marketers Trying to Gain a Foothold in MA
Marketers are making a last-ditch attempt at establishing abeachhead for fair and open competition in the retail energy marketin Massachusetts. They lost a battle earlier this year whenregulators voted to allow utilities to assign portions of upstreamgas transportation and storage capacity to customers who wereseeking alternative suppliers. Marketers now hope they can persuaderegulators to establish a set of minimum standards for utilitytransportation service, not only for the retail customer, but alsofor the new utility customer, i.e., the retail marketer, as well.
AES Grabs IL Foothold with $885M CILCORP Buy
International power generation developer AES Corp. continued anaggressive acquisition strategy yesterday with the purchase of all13.6 million shares of Peoria, IL-based CILCORP, parent of CentralIllinois Light Co., for $65 per share, a 22% premium. The value ofthe transaction is about $885 million.
Deal Makes Williams Top-10 Power Marketer
A deal to sell gas to and market power from three Los Angelesgenerating facilities gives Williams a much larger foothold in theburgeoning California energy marketplace and boosts its position inboth gas and power marketer rankings.