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Fuel

Southern to Manage Brazos Co-op’s Power

Southern Company Energy Marketing signed a five-year deal tomanage Brazos Electric Power Cooperative’s power generation andfuel supplies and deliver 1,650 MW of power to the co-op. Southerncan market the excess power on the open market. The deal alsoobligates Southern to expand the Texas co-op’s generation capacityby 600 MW to satisfy projected load growth, particularly in thearea surrounding Dallas-Fort Worth.

October 28, 1998

NYPSC Cuts NFG’s Rates $20 Million

The New York State Public Service Commission approved a rateplan yesterday for National Fuel Gas Distribution that will cut itsresidential and commercial rates by $20.4 million in two phasesover the next two years. Not only will customers enjoy lower rates,but the company will have to attain specific service qualitytargets for its customers or face penalties, said PSC ChairmanMaureen O. Helmer.

October 22, 1998

San Diego Putting Power Plants Up for Sale

San Diego Gas and Electric Co. is formally asking for nonbindingexpressions of interest for two fossil-fuel power plants and 17combustion turbines by Sept. 10 as the start of a sales plan forits generation assets for which it expects to gain stateregulators’ approval by that same time. Eventually, it expects tosell nearly 2,000 MW of generating capacity by the end of the year,according to a company spokesperson.

August 13, 1998

Sempra Focuses on Multi-Fuel Marketing

From its new corporate headquarters in San Diego, officials ofthe newly merged $6.2 billion Sempra Energy yesterday stronglypromoted their goal of expanding both utility and nonutilitybusinesses throughout the U.S. in the next 10 years as energyrestructuring spreads from state to state. It plans both highprofile marketing/branding and political campaigns to further itsgoal of being “one of the top five energy services companies inNorth America.”

June 30, 1998

Renaissance Puts up C$1 Billion for Pinnacle Resources

The depressed crude oil market continued to fuel an acquisitionfrenzy north of the border yesterday with Canadian producerRenaissance Energy mounting a friendly takeover of fellow CanadianPinnacle Resources Ltd. Renaissance CEO Clayton Woitas said theC$1.06 billion deal is designed to improve “operatingefficiencies,” build a stronger presence at a “fair price andcreate “long-term value” for shareholders.

June 9, 1998

New Price Upticks Fuel Bullish Sentiments

Cash prices returned to a climbing mode Friday, and in theprocess won more converts to believing in a fundamentally stronggas market this spring and summer. Although Western gains tended tolag a bit behind, most increases were between a nickel and a dime.Most of the double-digit gains occurred in the Gulf Coast,Appalachian and Northeast market areas.

April 6, 1998
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