Giant

Williams was selected last week by a consortium of deep-waterGulf of Mexico producers to handle about 500 MMcf/d of gasproduction that is scheduled to come on stream in mid-2002. Toaccommodate the projected volumes, Williams will build, operate andown the Canyon Station, a production handling platform in the EastMain Pass area south of Mobile Bay.

Williams was selected yesterday by a consortium of deep-waterGulf of Mexico producers to handle about 500 MMcf/d of gasproduction that is scheduled to come on stream in mid-2002. Toaccommodate the projected volumes, Williams will build the CanyonStation, a production handling platform in the East Main Pass areasouth of Mobile Bay.

FirstEnergy Corp. and GPU Inc. took a giant step forward intheir merger plans last week, submitting applications for approvalto the Federal Energy Regulatory Commission, the New Jersey Boardof Public Utilities and the Pennsylvania Public Utility Commission.Still to come will be approval by each company’s shareholders inspecial meetings set for Nov. 21.

Deregulation of New Hampshire’s electricity market moved a giantstep closer to becoming a reality on Tuesday. The New HampshirePublic Utilities Commission approved the state’s settlementagreement with Public Service Company of New Hampshire (PSNH),allowing the process of electric restructuring to continue on itstrack.

PG&E Corp. is the latest energy giant to seek a toehold inthe fast-growing Arizona merchant power plant market, gaining aninitial state approval last week, but facing up to a half-dozencounty, state and federal environmental reviews for a proposed $500million, 1,040 MW natural gas-fired plant near Phoenix.

PG&E Corp. is the latest energy giant to seek a toehold inthe fast-growing Arizona merchant power plant market, gaining aninitial state approval last week, but facing up to a half-dozencounty, state and federal environmental reviews for a proposed $500million, 1,040 MW natural gas-fired plant near Phoenix.

The New York Mercantile Exchange took two giant steps forward last week, announcing plans to become a for-profit organization and to launch a global electronic exchange for over-the-counter forward trading and clearing of a wide range of standardized physical commodity contracts.

The New York Mercantile Exchange took two giant steps forwardyesterday, announcing plans to become a for-profit organization andto launch a global electronic exchange for over-the-counter forwardtrading and clearing of a wide range of standardized physicalcommodity contracts.

A new giant is set to emerge from a venture of New Orleans-basedEntergy Corp. and privately held Koch Industries Inc. Entergy-KochLP will be a North American and European powerhouse in electricityand gas, gas transmission and weather derivatives and will be owned50% by each of its partners. A big focus of the venture will beweather derivatives, of which Koch is a pioneer.