Future

FERC told six California power suppliers Friday that they mustjustify $55 million worth of wholesale electricity sold duringStage Three emergencies in the month of February or pay refunds.

In a second lawsuit filed last week to prevent future legal roadblocks, Royal Dutch Shell Group asked a federal court to declare that its tender offer to take over Denver-based Barrett Resources Corp. complied with the regulations of the Securities and Exchange Commission, and that Barrett may not file a lawsuit on any merger-related issues except in the Delaware courts, where Barrett is incorporated.

In a second lawsuit filed this week to prevent future legalroadblocks, Royal Dutch Shell Group is asking a federal court todeclare that its tender offer to take over Denver-based BarrettResources Corp. complies with the regulations of the Securities andExchange Commission, and that Barrett may not file a lawsuit on anymerger-related issues except in the Delaware courts, where Barrettis incorporated.

The future is bright for investors in the power market, butrather dim for the nation’s power users, Salomon Smith Barney (SSB)warned in a new report titled “The U.S. Electric Shock.”

The future is bright for investors in the power market, butrather dim for the nation’s power users, Salomon Smith Barney (SSB)warned in a new report titled “The U.S. Electric Shock.” The powercrisis won’t be confined to California and the West for very long.Power shortages are going to spread to eastern states over the nextfew years not only because of delays in power plant constructionbut also because of delays in gas supply development andconstraints on the gas pipeline grid, the firm predicted.

Depending on your perspective, California either moved towardfuture solutions to its nagging energy crisis or took several stepsbackward yesterday with the launch of its electricity bulk buyingprogram for long-term, fixed-price supplies.

Despite the desperate need for natural gas currently, long-haulpipeline construction is headed for a temporary lull over the nextfive years, according to Thomas Howard, director of strategicproducts at PIRA Energy Group, a New York City-based energyconsulting firm.

Despite the desperate need for natural gas currently, long-haulpipeline construction is headed for a temporary lull over the nextfive years, according to Thomas Howard, director of strategicproducts at PIRA Energy Group, a New York City-based energyconsulting firm.

The natural gas business of the future is tied to three things:assets, knowledge and its customers, and the companies that knowhow to merge the three successfully will rise above the crowd,Linda Cook, CEO of Shell Gas and Power, told delegates last week atthe GasTech 2000 conference in Houston.