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.
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Energy East CTG Merger Passes State Review
Hungry Northeast utility giant Energy East said ConnecticutDepartment of Public Utility Control approved its merger withConnecticut Natural Gas parent CTG Resources yesterday. Thecompanies are awaiting Securities and Exchange Commission approvalunder the Public Utility Holding Company Act, which is expected byJune 2000. CTG shareholders overwhelmingly approved the merger onOct. 18.
Nova Scotia Picks Sempra to Distribute Gas
Taking a giant step toward successfully completing a 10-monthquest, Sempra Energy announced last week that the Nova ScotiaUtility and Review Board (URB) has said it will recommend SempraAtlantic Gas as the province’s first-ever gas distributor. Theprovincial government, which has the final say in the matter, saidit would issue a decision in the next three weeks.
Nova Scotia Picks Sempra to Distribute Gas
Taking a giant step toward successfully completing a 10-monthquest, Sempra Energy announced yesterday that the Nova ScotiaUtility and Review Board (URB) has said it will recommend SempraAtlantic Gas as the province’s first ever gas distributor. Theprovincial government, which has the final say in the matter, saidit would issue a decision in the next three weeks.
First Gas Tapped and Delivered in Canadian Arctic
Canada’s Far North was the scene Friday (Sept. 10) of anatural-gas industry version of the small step for man but giantleap for mankind on the moon 30 years ago.
First Gas Tapped and Delivered in Canadian Arctic
Canada’s Far North was the scene Friday (Sept. 10) of anatural-gas industry version of the small step for man but giantleap for mankind on the moon 30 years ago.
Browne Gives BP Amoco State-of-the Union
Sir John Browne, BP Amoco’s CEO, gave a peek into the integratedenergy giant’s future Thursday as he told analysts in London of aworldwide three-year plan to cut $4 billion in costs, sell $10billion in non-core assets, and boost capital expenditures $26billion. The company’s overall goal is to add six percentage pointsto its return on capital by the end of the three-year period.Browne also announced plans for a shareholder meeting Sept. 1, whenthe merger with Arco will go to a vote.
NRG Builds Power Giant In Hungry Northeast
While power demand hit record levels throughout the Northeastand power prices rocketed to $850/MWh last week, NRG Energycontinued to position itself as a major generator in thepower-hungry region. The subsidiary of Northern States Power landeda major power generation deal with Connecticut Light & Power ofHartford. NRG is snatching up 2,235 MW of generating capacity fromCL&P for $460 million.
NRG Builds Power Giant in Hungry Northeast
While power demand hit record levels throughout the Northeastand power prices rocketed to $850/MWh yesterday, NRG Energycontinued to position itself as a major generator in thepower-hungry region. The subsidiary of Northern States Power landeda major power generation deal with Connecticut Light & Power ofHartford. NRG is snatching up 2,235 MW of generating capacity fromCL&P for $460 million.
Range Resources, First Energy Form Appalachian Giant
Range Resources Corp. and FirstEnergy Corp. last week announcedthe formation of a $1 billion exploration and production jointventure in the Appalachian Basin. Each company will own 50% of theyet-to-be-named venture. The deal is expected to close within 60days.