Generator

Although none of the major merchant generators in Californiawill talk about pulling back from the nation’s largest electricitymarket, they are not happy with some of the proposals that haverecently landed in the federal regulators’ lap advocating pricecaps and cost-based ratemaking, at least for interim periods.Several generators noted this week they are watching the situationclosely and intend to be heard at the federal level as well asamong the California energy policymakers.

Although none of the major merchant generators in Californiawill talk about pulling back from the nation’s largest electricitymarket, they are not happy with some of the proposals that haverecently landed in the federal regulators’ lap advocating pricecaps and cost-based ratemaking, at least for interim periods.Several generators noted this week they are watching the situationclosely and intend to be heard at the federal level as well asamong the California energy policymakers.

Southern Energy agreed yesterday to purchase four PotomacElectric Power Co. (Pepco) power plants for $2.65 billion, givingthe power generator an additional 5,889 MW of capacity, and directaccess to the mid-Atlantic states market.

Acknowledging that a combination of unexpected generator outagesand sustained hot weather could create the threat of power outagesthis summer, the California Independent System Operator (Cal-ISO)launched a new alert system for gaining enough voluntaryconservation by businesses and mass consumers to ride out thepeak-demand periods. Calling it “Power Watch 2000,” Cal-ISOPresident/CEO Terry Winter said he anticipates that both short- andlong-term the state can use market-based programs to addresspotential shortfalls.

Acknowledging that a combination of unexpected generator outagesand sustained hot weather could create the threat of power outagesthis summer, the California Independent System Operator (Cal-ISO)launched a new alert system for gaining enough voluntaryconservation by businesses and mass consumers to ride out thepeak-demand periods. Calling it “Power Watch 2000,” Cal-ISOPresident/CEO Terry Winter said he anticipates that both short- andlong-term the state can use market-based programs to addresspotential shortfalls.

While droves of developers are flocking to the Florida market tocash in on the gas-fired power generation bonanza, affiliates ofDallas-based Panda Energy are eyeing a market closer to home -Arkansas.

Southern Co., the largest electric generator in the country,still plans to hire 1,000 more people before the end of the year.Many of the job openings are in the unregulated sector, the companysaid last week. So far in 1999, Southern has filled 2,000 vacant ornew positions.

Southern Co., the largest electric generator in the country,still plans to hire 1,000 more people before the end of the year,the company said yesterday. Many of the job openings are in theunregulated sector. So far in 1999, the company has filled 2,000vacant or new positions.

AES Corp., a world-wide power generation company, announced thatit has entered into a definitive agreement to acquire New EnergyVentures Inc. (NEV), an energy service firm for large commercialand industrial buyers, in a transaction valued at approximately $90million.