George

With a meeting with President George W. Bush set for probably Tuesday of next week, Gov. Gray Davis Thursday seemed to be building renewed momentum in his efforts to untangle California’s electricity mess, which becomes more critical as each calendar day pushes closer to summer. He announced a summer power supply deal, a new effort by the state to give more advance notice of rolling blackouts and new initiatives to enter long-term contracts with the state by the largest of the state’s 30 municipal utilities that serve about 25% of the power consumers.

PSEG Global announced Wednesday that it has added George P. Schaefer, 50, to the company as senior vice president of finance and treasurer. Schaefer will focus on corporate and structured financing, financial planning, and asset and risk management. In addition, PSEG Global said he will assume responsibility for the asset management of the company’s investment in Texas Independent Energy (TIE), a joint venture established to develop, construct, own, and operate electric generation facilities in Texas. Schaefer formerly worked as an executive for Enron Corp. where he led a team in the structuring, negotiation and closing of electric generation and energy-related transactions. PSEG Global develops, owns and operates electric generation and distribution facilities in the U.S. and select international markets.

The Woodlands, TX-based Mitchell Energy & Development Corp. is attracting interest from potential buyers, according to founder and CEO George Mitchell, 81. Mitchell, speaking to reporters following the company’s annual meeting Wednesday, would not confirm nor deny that the company is considering offers. “We’ll see what happens,” he said.

The Woodlands, TX-based Mitchell Energy & Development Corp. is attracting interest from potential buyers, according to founder and CEO George Mitchell, 81. Mitchell, speaking to reporters following the company’s annual meeting Wednesday, would not confirm nor deny that the company is considering offers. “We’ll see what happens,” he said.

George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.

George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., said this week he is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.

For all of the talk that President George W. Bush’s team wouldsecure an energy agreement with Mexican President Vicente Fox intheir day-long meeting Friday, it appears that’s all it was, bigtalk. They were expected to forge stronger ties, but a neighborlyenergy policy to open electricity markets to competition is, atbest, a long-range (pipe) dream.

For all of the talk that President George W. Bush’s team willsecure an energy agreement with Mexican President Vicente Fox, itappears that’s all it is, big talk. When they hold their firstofficial meeting today, they may forge stronger ties, but aneighborly energy policy to open electricity markets to competitionis, at best, a long-range (pipe) dream.

Prodded by Gov. George H. Ryan, the Illinois Commerce Commission (ICC) voted late week unanimously to open a Notice of Inquiry (NOI) to investigate the high natural gas prices in the state.