Hailed

Once hailed as a national model for helping industry voluntarily lower air emissions, the Southern California-based RECLAIM emission credits program crashed last Wednesday with the arrest on criminal fraud charges of one of its founders. A number of major western energy companies are listed as victims of what authorities call a basic $80 million Ponzi scheme. One of the victims, San Jose, CA-based Calpine Corp., told NGI on Thursday that it has settled with the emissions credit exchange for an undisclosed amount.

The Environmental Protection Agency (EPA) last week issued a controversial equipment replacement provision to the Clean Air Act’s New Source Review (NSR) permitting program, which could allow an estimated 17,000 power plants, refineries, chemical plants, pulp and paper mills and other industries to replace equipment without installing more emission controls — even if the new equipment increases pollution.

The Public Service Co. of New Mexico (PNM) hailed a New MexicoSupreme Court decision yesterday that ruled in favor of PNM andoverturned a $6.9 million gas utility rate reduction imposed bystate regulators in 1997.

Associations representing the natural gas industry hailed thenomination of Bill Richardson, currently United Nations envoy, assecretary of energy to replace Federico Pena who leaves the post atthe end of this month. President Clinton announced his intention tonominate Richardson Thursday.