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Legislation that could give Texas electric customers substantialrefunds because of “unintended windfall” profits made through thecoming deregulation of the state’s utilities is making its waythrough the Texas House. Under the current law, large utilities maykeep earnings made through 2004 to offset the costs of investing innuclear power plants.

Legislation that could give Texas electric customers substantialrefunds because of “unintended windfall” profits made through thecoming deregulation of the state’s utilities is making its waythrough the Texas House. Under the current law, large utilities maykeep earnings made through 2004 to offset the costs of investing innuclear power plants.

Intrastate pipeline safety legislation, which would give New Mexico authorities more oversight over lines running through the state, received unanimous support from the state’s House last week. The bill comes six months after El Paso Natural Gas Co.’s South Mainline near Carlsbad exploded killing 12 people from an extended family who were camping on the Pecos River (see NGI, Sept. 4, 2000).

Intrastate pipeline safety legislation, which would give NewMexico authorities more oversight over lines running through thestate, received unanimous support from the state’s House this week.The bill comes six months after El Paso Natural Gas Co.’s SouthMainline near Carlsbad exploded killing 12 people from an extendedfamily who were camping on the Pecos River (see Daily GPI, Aug. 22,2000).

After careening almost $1.50 lower early last week, bulls atNymex fought back Thursday and Friday as traders glommed on to somemodestly constructive technical and fundamental factors. When allthe dust had cleared and the orders were tabulated, the numbersspeak for themselves. The February contract lost 13% of its value,tumbling 96.3 cents lower, to go off the board at $6.293 Monday.After following in February’s footsteps Tuesday and Wednesday, thenew prompt month, March, erupted $1.036 higher to close the week at$6.743.

Sen. Dianne Feinstein (D-CA) introduced legislation on CapitolHill last week that would give the Department of Energy (DOE) theauthority to overstep FERC by setting an interim regional price capor cost-based rates on wholesale power transactions in 11 westernstates.

While careful not to use the word “re-regulation” CaliforniaGov. Gray Davis on Monday clearly indicated his desire to give thestate more direct control over energy operators, utilities and theusage of all the state’s 34 million residents (see Daily GPI, Jan. 9). He barely had time to clarify orget reactions for his plans before flying to Washington, D.C., wherelate Tuesday he huddled with Clinton Administration and industryofficials.

Pacific Gas & Electric has called on FERC to rejectproposals that seek to give California utilities less time to paytheir ballooning generation cost obligations, and would absolvesellers of penalties for not supplying power if customers can’t paytheir bills.

Pacific Gas and Electric has called on FERC to reject proposalsthat seek to give California utilities less time to pay theirballooning generation cost obligations, and would absolvegenerators of penalties for not supplying power in emergencysituations if customer creditworthiness standards aren’t met.